Australian consumers shaken as virus lockdowns return: survey [Reuters]
Westpac Banking Corporation (WBK)
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Source: Reuters
Australian consumers shaken as virus lockdowns return: survey SYDNEY (Reuters) - A measure of Australian consumer sentiment showed a setback in July as renewed coronavirus lockdowns in the country’s second-largest city darkened the mood after two months of gain. The Westpac-Melbourne Institute index of consumer sentiment fell 6.1% in July from June, when it had bounced 6.3%. The index had taken a nosedive in April as lockdowns gripped the country, but jumped by a record in May as restrictions eased. The July fall left the index down 8.9% on the same period last year at 87.9, meaning pessimists outnumbered optimists by some margin. “Sentiment has been rocked by the resurgence in Coronavirus cases over the last month,” said Westpac Chief Economist Bill Evans. “After averaging about 10 a day through late May and early June, new cases have lifted significantly, running at close to 200 a day in the July survey week.” The spike forced the lockdown of much of Melbourne, the capital of the st
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