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‘People are spooked’: Australia’s January consumer confidence sinks to three-decade low over Omicron
As Covid cases surge Australians are avoiding spending, despite 2021 ending on an economic high
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Australia’s consumer sentiment dived this month as worries about the explosion in Omicron Covid cases sent confidence to its lowest January level since 1992, according to the latest ANZ-Roy Morgan survey.
Consumer confidence fell 7.6% last week, sinking to its lowest rate since October 2020. Omicron case numbers surged across Australia, straining testing facilities and disrupting everything from supply chains to hairdressing salons.
Read the original article at The Guardian