Economic Buzz: Australia Westpac Consumer Confidence Weakens In March

9 Mar 2022 , 11:22 AM

Australia consumer confidence took a hit in March, the latest survey from Westpac Bank revealed on Wednesday with an index score of 96.6 – down 4.2 percent from the February reading of 100.8. This is the weakest print since September 2020, which is also the last time the index was below the 100-level indicating that pessimists outnumber optimists. That previous low marked the end of a fifteen-month run of pessimism that began when the economy hit a flat patch in the second half of 2019 and worsened dramatically with the onset of the global pandemic just over two years ago.

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