Consumer confidence drops

sad, business, down, decline, drop, badThe consumer confidence index has shown a slight decrease in the September quarter, falling to 116.7 on the Westpac McDermott Miller Consumer Confidence Index.

In June the index was 121.2.

Yet the report said that while the index has decreased for the third quarter, in the long term the overall level of confidence remains elevated.

This may indicate that the drop in confidence may not heed the usual challenges for retailers, with consumer spending remaining robust.

A decrease was observed in the number of households that felt now is a good time to buy a major household item. This was a reversing of the trend seen over the past three quarters.

This may indicate that consumers are being more cautious with their spending.

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