more to come
Westpac were not too optimistic on this report heading in:
- survey is in the field over the week ended Dec 11.
- It will capture initial reactions to the emergence of the new omicron variant that has seen restrictions on international travel reintroduced
- Rising inflation concerns may also be starting to undermine sentiment although these may be allayed somewhat by the RBA Governor’s clear intention to leave official interest rates on hold for a long time yet.
- Recent declines in fuel prices – down over 12¢ to $1.43/litre from two year highs over $1.55/l last month – may also help
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FWIW I'm a little sceptical on the 'falling fuel prices' in that week. I was out and about and had to be resuscitated after seeing the price of petrol/gas. Also, on the RBA Governor. I am not familiar with who takes part in this survey but most consumers I know pay little attention to the RBA Governor's comments unless they are made in Sex and the City or the Bachelor or whatever it is everyone is watching now.
