Consumer: Confidence and Future

consumer: The latest weekly ANZ-Roy Morgan consumer confidence index dropped 3.6 per cent amid a deterioration in views about future financial and economic conditions, according to Nine News Australia. Consumer confidence is a pointer to future retail spending."We expect that last week labour market report showing ongoing weakness in full-time employment likely weighed on sentiment," Felicity Emmett, ANZ head of Australian economics said. In the past week consumer confidence has fallen to its lowest level since May - a time when people were still working out whether the federal budget would hit their hip-pocket and worrying what an eight-week federal election campaign might bring. Stock market falls over the past couple of weeks could also have dampened consumers' view of the outlook. It was only partly offset by a rise in part-time workers. Official jobs figures last week showed the number of full-time workers tumbled by a hefty 53,000 in September, the largest monthly drop in five years. (news.financializer.com). As reported in the news.