Family finances bite; consumer confidence softens in latest Westpac-MI report

09 February 2022

 

Summary: Household sentiment deteriorates modestly in February; decline in index a surprise given easing Omicron disruptions, improved labour market; touch under long-term average reading; improvements from falling infection, hospitalisation rates “more than offset by increased pressure on family finances”; three of five sub-indices lower; Unemployment Expectations index lower, points to jobless rate falling below 4% over next few months. After a lengthy divergence between measures of consumer sentiment and business...

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