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Consumer sentiment took an unanticipated 5.6 per cent plunge in June, the Westpac Melbourne Institute Index of Consumer Sentiment revealed yesterday.
document.addEventListener('DOMContentLoaded', (event) => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event': 'articleTags', 'article_tags': ['Breaking News'] }); });The index now sits at 84.7 – the lowest level recorded since December 1992.
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Bill Evans, Westpac chief economist, said that petrol prices were likely the largest contributor to the fall in light of no changes to interest rates – which is the usual cause of any large deterioration in the index.
In fact the confidence of those holding a mortgage fell by just 4.1 per cent compared to the confidence levels of those that own their home (5.8 per cent) or rent (7.8 per cent).
Published: 12-06-08
