Monday 08 August 2022

Consumer confidence plummets

Consumers’ confidence in the economy fell sharply again in September and is now 50 points below February’s high, the national statistics office CBS said on Tuesday.

The index also fell in August. Such a sharp drop has never been recorded over a two-month period, the CBS said.
The economic confidence index now stands at -53, compared with -3 in February.
Consumers are also more negative about their own economic prospects and are less willing to make major purchases, the CBS said.

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