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Wednesday, 15 June 2022

Consumer confidence back to 1991 levels

Confidence crunch

Horrendous consumer confidence numbers, and this was before the RBA speech:

Household views on financial conditions are in freefall, dropping by more than 10 per cent.

A hiking cycle has never previously started with consumer confidence already at such low levels, which suggests to me that it will be short-lived. .

Doesn't look like we'll have too much of a demand problem going forward...