Consumer Sentiment in the ‘Doldrums’ as Cost-of-Living Crisis Continues

Consumer Sentiment in the ‘doldrums’ as cost-of-living Crisis Continues

REA Group Economic Research Director Cameron Kusher says consumer sentiment still remains “pessimistic” as the cost-of-living crisis continues.

Mr Kusher joined Sky News Australia Business Editor Ross Greenwood to discuss the Westpac-Melbourne Institute Consumer Sentiment Index of House Price and whether people think it’s a good time to buy.

“If we look at consumer sentiment it’s in the doldrums,” Mr Kusher said.

“Pessimism has outweighed optimism for 27 consecutive months now. As part of that release, they have what they call the time to buy a dwelling index and it’s also at extremely low levels at the moment.

“So, that says to me consumers are doing it tough, they don’t think things are great, and they certainly don’t think it’s a good time to buy a property.”

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Credit to : Sky News Australia