Consumers wary of big spending

A net 39% of people think it’s a bad time to buy a major household item. (Image: Depositphotos)

Fri, 28 Jul 2023

Consumer confidence slipped further in July as more people believe it’s not a good time to buy a major household item, news that doesn’t bode well for retailers.The monthly ANZ-Roy Morgan Consumer Confidence Index has fallen 2 points to 83.7 from June. A net 39% think it’s a bad time to buy a major household item, a sharp 12-point fall to back around its lows (excluding lockdowns).“That’s the best spending indicator in the survey and suggests consumers are indeed ‘cooling their jets’,” said c...

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