Consumer confidence plummets in December

Mon, 19 Dec 2022

The Westpac McDermott Miller consumer confidence index moved into freefall in December, dropping 12 points to its lowest level since the survey began 34 years ago.The survey, an indicator of how optimistic consumers are about the future, hit 75.6 in the December quarter on the back of increased borrowing costs and the sharp rise in consumer prices, particularly across food, housing and fuel.An index rating of more than 100 indicates that optimists outnumber pessimists. The survey was conducted from Dec 1 to Dec 12, with a sample size of 1,559 r...

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