Consumer’s pessimistic outlook toward their finances and the country’s economy is increasing


Westpac senior economist Matthew Hassan has disclosed the increasing ‘pessimistic’ outlook of consumers with regard to their personal finances and the country’s economy.

His remarks come after a critical consumer confidence measure by Westpac and the Melbourne Institute was made public on Tuesday that pointed out a continuation of consumer sentiment weakness.

“Pessimism is the dominant theme,” Mr. Hassan said in an interview with Sky News Australia Business Editor Ross Greenwood.

“And really, it’s the cost-of-living crisis that is dominating consumers.”

“The sentiment measures are telling us there are concerns around family finances.”

“Pessimists dominate optimists by a huge margin at the moment.”

- Published By Team Australia News

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