All of the economic ‘doom and gloom’ being spread around by political leaders and economic commentators is getting consumers and small businesses down, says Australian Retailers Association (ARA) executive director Richard Evans.
Evans believes that the drop in the Westpac Consumer Sentiment and ACCI’s May Small Business Survey’s Exepected Economic Growth index falling short by 22 points is due to negative reporting of the crisis.
“What we’re seeing at the moment is any sign of consumer confidence returning being quickly quashed by our leaders and commentators who show little concern for the effect economic rhetoric has on economic recovery.”
Evans believes that the Australian economy is not in as bad a position as it’s made out to be by our leaders, where interest rates are the lowest since the 1960’s, petrol prices are low, the Australia dollar is recovering against the American dollar, and many sectors are showing signs of early recovery.
“Despite all of these positive economic indicators, our leaders and commentators continue to spruik the negative narrative which is perpetuating the problem and stalling economic recovery,” said Evans.