Sydney consumer confidence has shifted as mortgage stress and economic uncertainty influence household spending.
Business & Markets Desk is a contributing writer covering business and public affairs for The Sydney Times.
Sydney consumer confidence has shifted as mortgage stress and economic uncertainty influence household spending. The latest consumer sentiment survey reflects the challenging economic environment.
The latest consumer sentiment data shows a decline in confidence across Sydney's metropolitan area. The proportion of household income devoted to mortgage servicing has climbed steadily, reducing discretionary spending in the CBD and suburban shopping strips. The Reserve Bank of Australia's rate decisions continue to influence consumer sentiment.
The RBA's rate decision on 29 September will be the next major catalyst for consumer confidence. Financial markets are pricing a 25 basis point increase to 4.85 percent. A hike would further reduce disposable income and suppress consumer spending.
The RBA's rate decision will be the next major catalyst for consumer confidence. The Reserve Bank of Australia publishes monetary policy decisions. The Australian Bureau of Statistics releases monthly economic data.
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The Reserve Bank of Australia publishes monetary policy decisions at Reserve Bank of Australia. The Australian Bureau of Statistics releases monthly economic data at Australian Bureau of Statistics.
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