Westpac survey results signal growing sense of ‘helplessness’ as Jim Chalmers faces growing pressure to rein in government spendingConfidence among mortgaged households has crashed to its lowest level in over three decades amid a growing sense of “helplessness” about the economy, even as a dramatic shift in financial markets suggests there is now a strong chance of a Reserve Bank rate cut by this time next year.The latest Westpac survey showed its consumer sentiment index sinking again in November to reach a four-year low, amid deepening pessimism about the near-term prospects for the economy. Continue reading...
Mortgage holders’ confidence crashes to lowest level since 1994 as year that ‘feels like a recession’ looms
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The Guardian - Australia NewsBy Patrick Commins Economics editor
EXECUTIVE SUMMARY
Westpac survey results signal growing sense of ‘helplessness’ as Jim Chalmers faces growing pressure to rein in government spending Confidence among mortgaged households has crashed to its lowest level in over three decades amid a growing sense of “helplessness” about the economy, even as a dramatic shift in financial markets suggests there is now a strong chance of a Reserve Bank rate cut by this time next year. The latest Westpac survey showed its consumer sentiment index sinking again in Nove
Key Takeaways
- Mortgage holders’ confidence crashes to lowest level since 1994 as year that ‘feels like a recession’ looms.
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Published originally on The Guardian - Australia News
