Consumers not buying it as confidence crashes amid tumbling interest rates

It may not be the case of"three strikes and you're out", but Reserve Bank officials would not be happy with the latest sour reading of consumer sentiment.

Indeed, the RBA's rate-cutting regime has coincided with a more than 8 per cent fall in consumer sentiment — shifting the dial from marginal optimism to entrenched pessimism in just five months. A reading of 100 is the pivot between net optimism and pessimism — the lower the reading, the greater the pessimism.

that's cause the banks wont cut rates...

It’s ok guys, most importantly expectations rose for house price growth

Maybe the ABC should use a platform like QandA to call the govt out nstead of pandering to them ? No one in charge has a friggin clue.

When utilities and insurance premiums are skyrocketing, people do not have the disposable income regardless of interest rate cuts. Blind Freddy could have told the RBA that.

Food prices in the supermarkets have increased. Meat, fruit, dairy all going up due to drought. Oil at ridiculous prices, and workers with little or no pay rises. XMAS will provide a boost, but not the boost the economists would be hoping for. It is going to be a long recession.

Sould turn the economic focus to the mim wage earners as opposed to the highest earning achievements trickle down economics gets plugged at the first opportunity every time and the mim wages are forced to take up the slack

Why buy on a low dollar when all our stuff is made in asia?

Goal achieved.

My penalty rates were cut, and my employer didn't use that to hire more people, they slashed hours across the board, putting fewer people on any one shift. I work harder for less, barely scratching together enough for rent. Of course 'consumer confidence' is low.

BS

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