Australian consumer sentiment remains in the doldrums, well under the 100 line that separates net optimism (above 100) from net pessimism (below).

For the week, drops again.

  • 89.3 (vs. prior week's 90.5)

ANZ remarks:

  • Consumer Confidence fell 1.3% last week, its 3rd 4th straight weekly loss.
  • Cost of living seems front and centre, as respondents' confidence in ‘paying off their home loan’ dropped 0.6%, falling a cumulative 14.7% in the past three weeks.
Australia consumer confidence 17 May 2022