Australia’s latest consumer confidence figures suggest April was the weakest month since late 1990, which was the point Treasurer Paul Keating declared, “this is the recession Australia had to have”, says Sky News Business Editor Ross Greenwood.... ( read more )
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Consumer confidence has taken a significant hit in recent times, with the levels dropping to the weakest points since the 1990s. The readings taken from the Westpac-Melbourne Institute Index of Consumer Sentiment have been dismal, showing a mere 89.6 points in May 2019. This sharp decline in consumer confidence has been causing a lot of concern in the industry, with many people worried about the impact it could have on the economy. The last time consumer confidence was this low was back in 1991, when former Prime Minister Paul Keating famously declared th
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