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Australian Consumer Confidence Lowest Since Pandemic Outbreak

Por: MarketWatch Business May 16, 2023

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The readings are consistent with recession-like conditions in the economy. The data follow news a week ago of the release of the 2023-24 federal budget that revealed the first surplus in 15 years, but also forecast slowing GDP growth and rising unemployment over the next year. The confidence slump also follows a decision by the Reserve Bank of Australia to raise the official cash rate by a further 25 basis points at the start of the month, and... + full article



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