Jitters hit consumers
CONSUMERS have been spooked by global financial turmoil, and business managers could soon also get the shakes. Consumer confidence sagged in July to its lowest point in seven months, dragged down by disturbing financial headlines from Greece and China. The Westpac/ Melbourne Institute index out yesterday showed consumer sentiment fell by 3.2 per cent in July, after dropping nearly 7 per cent in June. “The concerns around Greece have been complemented by sensational coverage of the collapse in the Chinese sharemarket,” Westpac chief economist Bill Evans said.