Australian consumer sentiment slumped to its lowest in more than 14 years in March as rising interest rates fanned worries over the economy, a survey showed on Wednesday.
The Westpac-Melbourne Institute consumer sentiment index dropped 9.1% in March to 88.6, the lowest reading since September, 1993. That was the third hefty fall in a row and left the index 23.3% lower than in March last year.
» Rate rises pummel consumer confidence – The Sydney Morning Herald, 12th March 2008.