August 10, 2011
Source: www.news.com.au
CONSUMER sentiment has fallen further into negative territory, as concerns about the state of the global economy added to persisting worries about interest rates, housing prices and the carbon tax.
The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 3.5 per cent in August, from 92.8 in July to 89.6 in August.
The fall in August extended a larger drop in July, to 92.8 from 101.2, taking it below the 100 level where pessimists and optimists are evenly balanced, to its lowest point since May 2009.
The survey period, from August 1 to August 6, straddled the latest outbreak of anxiety and turmoil in global financial markets.
Just over three quarters of respondents answered the survey prior to August 5, when markets were hit by the turbulence.
There was a distinct worsening in confidence in the final two days of the survey.
To read the full story, follow this link: www.news.com.au/business/breaking-news/consumer-sentiment-plunges-in-august/story-e6frfkur-1226112249028
