5/21/2009

Consumer attitude in Australia took a sharp downturn after the nation's budget was announced, according to the Westpac-Melbourne Institute Consumer Sentiment Index. "This is the second-largest fall in this relatively stable component in the last 10 years and probably indicates that consumers have been unnerved by the sharp rise in the government's deficit and associated ballooning of the national debt," said Bill Evans, Westpac's chief economist.

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