U.S. consumer sentiment in early February unexpectedly declined to its lowest level in more than a decade, due to fears that rising levels of inflation would persist in the near term, according to a survey from the University of Michigan. The university report, which was released on Feb. 11, saw the consumer sentiment index tumble…
US Consumer Sentiment In February Falls To Its Lowest Level In More Than A Decade
February 12, 2022
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Australian Manufacturing Hit by Supply Chain Disruptions
Australian manufacturing activity contracted over the summer holiday period as the Omicron outbreak caused disruptions. Australian Industry Group’s Manufacturing Index fell by 6.4 points to 48.4 during December and January, representing the challenges around staff availability and further disruptions to supply chains. A reading of below 50 points indicates a contraction of activity. Ai Group…
‘We Could Walk Away With Nothing’: NSW Business Hit Hard by Omicron
January 20, 2022
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Bookshop café Gertrude and Alice used to see customers coming in droves during summertime. But since the Omicron strain tore through Sydney two months ago, the Bondi Beach shop is losing money every day just by keeping its doors open. “We may as well be in lockdown,” said owners of 21 years Jane Turner, who…
Australian Consumer Confidence for January Hits 30-year Low
January 19, 2022
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Australian consumer confidence plunged to its lowest January reading since 1992 and the overall lowest since October 2020, according to the ANZ-Roy Morgan consumer confidence index. January typically posts positive consumer confidence results, but it has plummeted 8.1 points to 97.9 during the second week of the month following the emergence of Omicron. Additionally, all states fell…
Australia Starts Off Year With Dampened Consumer Confidence
January 11, 2022
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Australia’s consumer confidence has taken a small hit across the country following the rapid spread of the Omicron variant of COVID-19. The weekly ANZ Roy Morgan consumer confidence rating dropped by 2.4 points for the first week of the year, a week that usually sees a rise. Consumer confidence fell particularly hard in South Australia…
Consumer Confidence Lifts as Americans Shrug Off Omicron Fears and Inflation Woes
Confidence among U.S. consumers rose to its highest level in five months as Americans brushed off concerns about inflation and the spread of Omicron, though both factors loom large as headwinds for sentiment going forward. The Conference Board’s consumer confidence index rose in December to a reading of 115.8, its highest level since July. That’s up…
Americans Plan to Spend More This Year’s Holiday Season Despite Rising Prices and Product Shortages: Survey
December 9, 2021
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Americans plan on spending more this holiday season despite lingering concerns about inflation, shortages and high prices, with many fearing the economy will fare worse next year, according to a recent CNBC survey. Based on data from the quarterly CNBC All-America Economic Survey, people are willing to spend $1,004 on average for buying gifts, an…
Inflation Worries Send US Consumer Confidence to Nine-Month Low: Conference Board
November 30, 2021
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Inflation concerns and, to a lesser extent, lingering worries about the pandemic drove U.S. consumer confidence down to a nine-month low in November, according to The Conference Board. The Conference Board’s consumer confidence index fell in November to a reading of 109.5, down from 111.6 in October, according to a Nov. 30 release. The downtick represents…
Consumer Confidence Lifts Ahead of Black Friday Spending Bonanza Weekend
Australia’s consumer confidence has lifted ahead of Black Friday weekend as vaccination rates rise and restrictions around the nation continue to ease. ANZ-Roy Morgan’s weekly consumer confidence index rose 1.3 percent but remains below the 2021 weekly average. Victoria led the rise, with confidence increasing by 4.9 percent, followed by 2 percent in Western Australia,…
Inflation Worries Send US Consumer Confidence Plunging to 10-Year Low
November 12, 2021
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U.S. consumer sentiment plunged to a decade low in November, according to a University of Michigan survey, which blamed surging inflation and a growing conviction among American consumers that no effective policies have been put in place to tame runaway prices. The university’s consumer sentiment index fell to a reading of 66.8 in November, down…
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