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Westpac survey: consumer confidence plunges –

Consumer confidence survey shows pessimism at nationwide-lockdown level



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Consumer confidence in Australia has plunged almost to the depths seen in April when the nation entered lockdown, with pessimism in NSW outstripping coronavirus-stricken Victoria, which may prove to be a big over-reaction, economists say.The Westpac-Melbourne Institute Index of Consumer Sentiment fell to 79.5 this month, from 87.9 in July and not far the extreme low of 75.6 seen four months ago.
Westpac economist Bill Evans said a sizeable fall in consumer sentiment was expected after Victoria …

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