Global consumer confidence returned to a pre-recession level in the first quarter—the highest score since first-quarter 2007 while Australia dropped to its lowest score on record, according to the latest consumer confidence survey from Nielsen.
Key insights noted in the report include the following:
• Global and U.S. consumer confidence at highest levels since 2007
• Australian consumer confidence dropped six points to lowest on record
• Three‐in‐five Aussies feel concerned about their job prospects in the next 12 months
• One‐in‐five (or 19%) Australians so they have no spare cash – this has nearly doubled since Q1, 2010