Business
Consumer sentiment collapses but housing dreams hold up – The Australian Financial Review
Consumer sentiment has plunged in Victoria as the second COVID-19 lockdown in Melbourne sparks pessimism across the country.
People’s view of the economy for the next 12 months recorded a significant decline, slumping 14 per cent in July to 25 per cent below the pre-COVID-19 levels. This compares to a 40 per cent drop during the first wave of the virus in March-April.
Even more concerning is the view on the economy over the next 5 years. That fell 10.3 per cent. During the initial COVID-19 shock that index fell only 5.1 per cent, and returned to better-than pre-COVID-19 levels by June.
“This is disconcerting as medi…
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