July 09, 2024 at 01:31AM
Westpac’s report, main points:
Family finances again under pressure.
Muted lift from ‘stage 3’ tax cuts and other fiscal measures, although many yet to see cash-flow boost.
Biggest declines amongst middle income earners, Victorians, hospitality and construction workers.
Rate rise expectations post big jump – 60% now expect higher rates.
Steady outlook for labour market still the main source of support.
Same story around housing: weak buyer sentiment and positive price expectations.
This article was written by Eamonn Sheridan at www.forexlive.com.
Australia: Westpac consumer confidence index (July ): -1.1% to 82.7 (prior 1.7% to 83.6)