Australian consumer sentiment slides in September
Australian consumer sentiment dropped 5.2 percent in September due to rising interest rates and fuel prices. The Westpac index reversed almost all of the previous month's gain as household finances deteriorated.
Insights:
Australia's consumer sentiment fell 5.2% to 84.4 in September, reversing almost all of the previous month's 6% gain amid rising interest rate fears and fuel prices. The drop leaves the main index down 12% from a year earlier, according to a survey released Tuesday. Persistent cost pressures continue to squeeze household finances and weigh heavily on the broader economic outlook.
