Consumer confidence in Australia took a hit in January, the latest survey from Westpac Bank revealed on Wednesday with a consumer confidence index score of 107.0.
That’s down from 112.0 in December, although it remains above the line of 100 that separates optimism from pessimism.
The January reading represents a 4.5 percent monthly drop following the 4.1 percent increase in the previous month.
An increase in the number of [coronavirus][1] cases is blamed for the decline, along with the resulting lockdown measures in various parts of the country.
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