Consumer confidence fell 0.8 points this week to 73.3 points even though the RBA left the cash rate unchanged.
‘Current,’ ‘future financial conditions,’ and ‘future economic conditions’ were offset as a sharp decline occurred in the ‘time to buy a major household item.’
For those paying off homes, consumer confidence fell 3.4 points, the lowest level of confidence on record for this.
‘Time to buy a major household item’ plummeted 6.8 points to the lowest point since April 2020.
