The monthly Westpac consumer sentiment index has been released, which has snapped back into pessimistic territory after last month’s aberration, falling 9% over the month to be sitting below levels seen in August and September.
Consumers are increasingly worried about interest rates, inflation, and family finances, though labour market expectations remain stable.
The main index fell from 103.8 in November to 94.5 in December, marking a return to “cautiously pessimistic” territory after last month’s bounce.
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