Reported about 1 month ago
Recent surveys indicate a decline in Australian consumer and business confidence, with job market concerns emerging as a key factor. The National Australia Bank's survey showed business confidence fell to -4 in August, particularly driven by a significant drop in the employment subcomponent. Concurrently, Westpac reported consumer confidence dipped to 84.6 points, highlighting persistent pessimism amid high interest rates and inflation pressures. With the jobless rate rising to 4.2%, Australians are increasingly cautious about spending as they gauge the economic outlook.
Source: YAHOO