Consumer confidence smashed for 13 straight weeks

The ANZ-Roy Morgan Consumer Confidence index fell 1.1 points to 76.2 this week, marking the thirteenth consecutive week that the indicator has been below 80, and the longest such stretch since the index began being administered on a weekly basis in October 2008.

The last time Consumer Confidence fell below 80 for at least thirteen weeks was during the 1990-91 recession, when the measure was conducted monthly.

Consumer Confidence is now 14.5pts below the same week a year ago, which was just after the RBA’s first interest rate hike.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.