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1.Market Observations, 8.Was Sticky

15 Dec 2016 (AFR) – Retailers hoping someone can save Christmas – Consumers don’t look like doing it

(15 December 2016, AFR, p28, by Philip Baker)

‘For retailers the results of the latest Westpac/Melbourne Institute consumer confidence index had all the appeal of a cold bowl of porridge. Alongside the prospect of a spike in petrol prices as early as next week, thanks to the latest surge in oil prices, there is now a fear that with only 10 full shopping days to go before Christmas, retailers are in for a tough time. The reason?’

‘Consumers aren’t feeling confident at all. In this sort of mood the risk is they don’t spend at all as the big day draws closer. According to the latest survey there haven’t been this many pessimists around since April. And if the November employment report, slated to be released on Thursday…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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