Consumer confidence drops to lowest point since financial crisis
Consumer confidence in Australia has dropped to its lowest point since the financial crisis in 2009, according to a rolling survey by credit card firm MasterCard.
Australia is APAC’s gloomiest consumer market, according to the survey, with declines New Zealand also seeing a drop in confidence.
Ten out of 16 markets surveyed were either flat or showed declines in confidence, with the biggest tumbles in Taiwan, Japan and Hong Kong, while the biggest rise in consumer confidence came in Bangladesh.
Myanmar, India and Indonesia remain Asia Pacific region’s most optimistic group of markets.
“Consumers across the region are holding their breath for signs of sustained economic growth and opportunity”
hope they’ve got good lung capacity
Not to worry. Joe Hockey will fix all this up in no time.
There are limits to Global Economic Growth. Serious economists have been talking about it since the 1970’s http://en.wikipedia.org/wiki/The_Limits_to_Growth It’s going to happen soon, it’s just a question of how soon. At some point we will have to start talking GDH not GDP…