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
