Consumer confidence fell by five percent in March, as Australians worry about rising interest rates and falling employment levels.
More bad news for businesses has been spelt out today, with the Westpac-Melbourne Institute Index of Consumer Sentiment for August falling to levels not seen since May 2009.
Consumers remain positive despite successive interest rate increased from the Reserve Bank of Australia and increases in home loan lending rates above and beyond the RBA in November by all major banks.