This is the monthly survey of consumer sentiment from Westpac in Australia. Comes in at an awful 78.5, down 6.9% m/m
Earlier we had a horrendous weekly consumer confidence number, the worst since the beginning of the pandemic!
Inflation
Inflation
Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m
Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m
Read this Term, rate rise response, biting.
This index has the 100 line as separation bewttn net optimism and pessimism. 78.5 is deeply, deeply pessimistic.
WPAC summary points on the release:
- Hopes of a break from cost-of-living pressures and rate hikes dashed.
- Sentiment back at historic lows – weaker reads only ever seen during recession.
- Over half of consumers expect mortgage rates to rise by 1ppt or more.
- Consumers reporting intense pressure on finances, mortgage belt especially.
- Attitudes towards major household purchases fourth lowest in 48 years.
- Confidence around jobs still positive but starting to get rattled again.
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