Summary: Household sentiment softens in May; still “second-highest” reading since 2010; sentiment index still substantially above long-term average; all five sub-indices lower; unemployment index lower; “limited uplift” from Federal Budget. After a lengthy divergence between measures of consumer sentiment and business confidence in Australia which began in 2014, confidence readings of the two sectors converged again around July 2018. Both readings then deteriorated gradually in trend terms, with...