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Australian consumer confidence slipping

Xinhua, September 29, 2015 Adjust font size:

There has been a dampening of confidence in Australian consumers after a brief honeymoon period after the taking office of new Prime Minister Malcolm Turnbull. ANZ-Roy Morgan gauge of consumer confidence released on Tuesday tumbled 3.4 percent in the past week.

People have been revealed to remain skeptical. There is still uncertainty about the economic outlook and analysis by the International Monetary Fund forecasts Australia's growth could be frail for a few years.

"While Turnbull's appointment (after Tony Abbott) was greeted with considerable optimism, the challenges facing Australian households remain front of mind and make it difficult to sustain a lift in confidence," ANZ's co-head of Australian economics Felicity Emmett said in Monday's statement. Endi