Australian data - another drop for consumer confidence, deeper into pessimistic zone

Westpac Consumer Confidence Index for January down 1.8%

To 93.4

• prior -1.9% to 95.1

The bushfires cited as reasoning for the further drop. Coulda been worse says WPAC:

• "Confidence has been further eroded by the bushfires but because the index was starting from such a modest level it was likely that the fall in confidence would be less than some may have expected"
• "This low level of confidence is consistent with the generally lacklustre reports on consumer spending."