Consumer confidence near historic lows – Westpac

The index is well below average. (Image: Getty)

Tue, 18 Jun 2024

A lift in consumer sentiment over the past six months has been almost entirely erased, according to Westpac.Westpac’s McDermott Miller Consumer Confidence Index, released Tuesday, put consumer confidence at 82.2 in the June quarter, down 11 points from 93.2 in March.A level below 100 signals that households pessimistic about the economic landscape outnumber those who are optimistic.Westpac senior economist Satish Ranchhod said that 42% of surveyed households believe their financial position has deteriorated over the past year while only 1...

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