Household sentiment is expected to remain weak for some time despite a slight uptick in the latest figures
Household sentiment is expected to remain weak for some time despite a slight uptick in the latest figures
22 March 2023
The Westpac McDermott Miller Consumer Confidence Index rose 2.1 points to 77.7 in March, after falling to record lows last quarter.
Senior Economist Satish Ranchhod says household finances are being squeezed, with big increases in living costs - particularly for food and utilities.
He says we've also had plummeting house prices and rising interest rates.
Ranchhod says those factors are going to be a big drag on household spending over the coming year.
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