Consumer confidence takes hit

visa,shopping,online,credit card,eftposThe Federal Government’s promise of a ‘dull’ Budget has done little to ease consumer concerns, as confidence tumbles in the lead up to its May 12 release.

Confidence fell almost one per cent last week to fresh eight month lows and has been trending lower in recent weeks, since media coverage of the upcoming Budget began to ramp up, according to ANZ/Roy Morgan’s consumer confidence barometer.

“This suggests that negative headlines around the worsening Budget position could continue to have an impact on confidence, even if the government delivers a ‘dull’ Budget as expected with few major policy measures,” ANZ chief economist, Warren Hogan, said on Tuesday.


You have 7 articles remaining. Unlock 15 free articles a month, it’s free.