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2023: The year of the gloomy consumer

As we limp towards the end of the consumer annus horribilis that was 2023, for many people, this was the year in that the interest rate Grinch threatened to steal Christmas. The last of this year’s consumer sentiment readings from Westpac reveals the lowest yearly score (bar one) since the bank began collecting the data back in 1974. It shows people are feeling worse than they did during COVID, or even the global financial crisis. Seasonal gloom: Shoppers on Melbourne’s Bourke Street Mall. Credit: Luis Ascui Thus, this year trumped all years other than 1990 in the poor sentiment stakes. But back then, the economy was tipping into…

2023: The year of the gloomy consumer

As we limp towards the end of the consumer annus horribilis that was 2023, for many people, this will be a year to forget. The last of this year’s consumer sentiment readings from Westpac reveals the lowest yearly score (bar one) since the bank began collecting the data back in 1974. It shows people are feeling worse than they did during COVID, or even the global financial crisis. ’Tis the season to be gloomy: Shoppers on Melbourne’s Bourke Street Mall. Credit: Luis Ascui Thus, this year trumped all years other than 1990 in the poor sentiment stakes. But back then, the economy was tipping into the worst modern-day recession on…

2023: The year of the gloomy consumer

As we limp towards the end of the consumer annus horribilis that was 2023, for many people, this will be a year to forget. The last of this year’s consumer sentiment readings from Westpac reveals the lowest yearly score (bar one) since the bank began collecting the data back in 1974. It shows people are feeling worse than they did during COVID, or even the global financial crisis. ’Tis the season to be gloomy: Shoppers on Melbourne’s Bourke Street Mall. Credit: Luis Ascui Thus, this year trumped all years other than 1990 in the poor sentiment stakes. But back then, the economy was tipping into the worst modern-day recession on…

Kenya’s Two-Wheeled Revolution

While the US EV market continues to be dominated by ever more advanced passenger vehicles, it is important to remember that the transition to electric vehicles is not a one-size-fits-all path. Consumers in Kenya may find a transition to renewable transportation on two wheels rather than four. Kenya is leading the way in electric motorcycle adoption in East Africa, starting with new government initiatives to replace the roughly 2 million diesel motorcycles currently on the road. Working alongside government policies are a collection of startups that are adapting their bikes specifically to the East African market. These new bikes…

Australian shares up across the board at midday

The local share market is on the rise for a third morning, with every sector gaining ground ahead of Wednesday's crucial US inflation data. At noon AEDT on Tuesday, the benchmark S&P/ASX200 index was up 40.8 points, or 0.57 per cent, to 7,239.8, while the broader All Ordinaries was up 41.4 points, or 0.55 per cent, to 7,450.7. Overnight the US Labor Department is set to announce US consumer price index data for November, with annual headline inflation tipped to tick lower to 3.1 per cent, from 3.2 per cent the month before. Shortly before lunchtime, NAB reported through its Monthly Business Survey that the economic outlook and…