-
Consumer sentiment sinks back to long run lows
The Westpac-Melbourne Institute Index of Consumer Sentiment declined 2.6% to 79.9 in November, down from 82 in October. The RBA’s November rate hike has put renewed pressure on family finances and reignited concerns about both the rising cost of living and the prospect of further rate rises to come. Previous months had been showing some tentative signs that sentiment might was starting to lift out of the deep pessimism that has prevailed since the middle of last year. That rally looks to have been cut short before it even really began. Responses over the survey week show sentiment was heading for a slight gain ... (full story)