Published On: Tue, Jul 20th, 2021
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Consumer Confidence Plummets as Half of Australia Enters Lockdownson July 21, 2021 at 12:21 am

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Consumer confidence experienced its sharpest weekly drop since the start of the CCP virus pandemic as states announce lockdowns one after another to contain the Delta variant of the coronavirus. Currently, over half of all Australians are now in lockdown after South Australia announced restrictions were coming into force from 6 p.m. Tuesday, after five cases were detected in the state, joining the New South Wales and Victoria. The ANZ-Roy Morgan consumer confidence index also plummeted by 5.7 points to 104.3, pushing the index below the weekly average for 2021. However, it was still higher than the same week in 2020. The index also fell in both Sydney falling 4.8 percent, and Melbourne, 3.7 percent. However, it was actually Adelaide (9.5 percent) and Perth (8.2 percent) that led the fall, while Brisbane saw a slight increase. ANZ Head of Australian Economics David Plank said sentiments to ‘buy a major household item’ were at …

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