The Westpac-Melbourne Institute Consumer Sentiment index for May has just been released and it’s not good news for the economy. Delayed a week, so the survey could take into account of the impact of the budget, the index shows consumers might just be pulling down the shutters which puts plans for economic recovery and transition at risk at a time when commodity prices are falling. The Index fell to 92.9 from last month’s 99.7 indicating sentiment well below the 100 average line and way off the highs that greeted the election of the Abbott Government. Indeed Westpac said that this is the lowest level of Consumer ... (full story)