The ANZ-Roy Morgan’s weekly survey showed Australian consumer confidence fell to its lowest level since the peak of the pandemic shock in April 2020.
A record 56 per cent of families surveyed last week said they felt financially worse off than this time last year, with 37 per cent planning for “bad” economic times over the next 12 months. Overall, confidence levels were equivalent to those last recorded in the 1990-91 recession. https://www.afr.com/markets/equity-markets/asx-retail-stocks-are-on-a-horror-run-for-good-reason-20230525-p5db5c
Today we’ll find out how retail performed during April from the ABS https://www.abs.gov.au/statistics/industry/retail-and-wholesale-trade/retail-trade-australia/latest-release