Friday, August 12, 2011

a perspective on consumer sentiment

Peter Martin has posted a breakdown of consumer sentiment by voting intention. This weeks Westpac Melbourne Institute survey of consumer confidence slumped to recession - like levels.

A near-record 48 per cent of those surveyed said their family finances had worsened in the past year. A near-record 36 per cent expected even worse family finances in the year ahead.

Both results are worse than any recorded during the global financial crisis....

The index tracking tracking views on the outlook for economic conditions over the year ahead has fallen 30 per cent since the May budget.

This weeks employment data was also weak with jobs growth stalling. Regional employment data is released next Thursday.

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