Australia's consumer confidence declined the most on record in April after the coronavirus outbreak evolved from serious concern to full-blown pandemic, survey data from Westpac showed on Wednesday.
The Westpac-Melbourne Institute Index of Consumer Sentiment plunged 17.7 percent to 75.6 in April from 91.9 in March.
This was the biggest monthly decrease in forty seven year history of the survey, taking the indicator beyond the global financial crisis lows.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.