Consumer confidence nearly back to pre-COVID levels is a 'spectacular rebound'

Westpac senior economist Matthew Hassan says consumer confidence nearly back to pre-COVID levels is a “pretty spectacular rebound”.

Mr Hassan told Sky News “when the lockdown was put in place sentiment plunged to 20 per cent and it was the worst decline we had seen in over 40 years”.

“Two months later we are nearly all the way back to pre-virus levels,” he said.

“We are just about 2 per cent below the average sentiment read over the 6 months to February.

“Not quite there but 2 per cent is a lot better than being down 20 per cent.”

Image: News Corp Australia

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