Confidence hits recession levels as 40pc plan Christmas cutbacks
Ronald MizenSenior reporter
Consumer sentiment plunged to recession levels and inflation expectations soared after the Reserve Bank last week lifted the official interest rate for a seventh straight month and indicated more increases were on the way.
About 40 per cent of people plan to cut Christmas spending, the highest proportion since Westpac starting asking the question in its monthly consumer sentiment survey back in 2009.
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