Australian consumer confidence measured in this survey has been weak and getting weaker, coronavirus is just the latest weight on it.
Check out the trend since mid-2019 or thereabouts. Consumers went into this crisis weak. I have been a broken record repeating the mantra of slow wage growth being a negative. Confidence has been falling and with it spending. If there is a bright spot (not evident in this data) its that there has been some pay down of household debt.
