June rate-rise drags Westpac-MI sentiment index back

13 June 2023

 

Summary: Household sentiment improves slightly in June; big rate-rise impact; confidence had improved prior to rate decision, tumbled afterwards; inflation, economic conditions, Federal Budget, taxation also weigh; two of five sub-indices higher; more respondents expecting higher jobless rate. 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 in mid-July 2018. Both measures then...

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