Australian consumers losing confidence

05/22/2013 | Age (Melbourne, Australia), The

A delay in the Australian government's pledge to return to budget balance and a cut in the central bank's benchmark interest rate were cited as reasons behind a sharp decline in consumer confidence. The Melbourne Institute and Westpac survey is down 7.0% this month, accelerating from a 5.1% decline in April after a 2.0% improvement in March.

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Age (Melbourne, Australia), The

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