Australia April consumer confidence slammed by tariff turmoil

SYDNEY (Reuters) - A measure of Australian consumer sentiment dived from a three-year high in April as market turmoil triggered by U.S. President Donald Trump's tariff plans hit the outlook for the economy and family finances, a survey showed on Tuesday.

The Westpac-Melbourne Institute index of consumer sentiment Slid 6.0% in April from March, more than erasing the previous month's 4% gain. The index was still 9.3% higher on a year earlier at 90.1, but pessimists continued to outnumber optimists.

Matthew Hassan, Westpac's head of Australian macro-forecasting, noted sentiment among consumers surveyed before Trump's announcement had eased just a touch, but the reading afterwards dropped 10% to 86.6.

"The scale and breadth of tariff increases, which included a 10% tariff on Australian goods, came as a major surprise, triggering a sell-off in global financial markets," he said.

"With the situation still deteriorating, there is a clear risk of more significant sentiment declines in the months ahead."

(Reporting by Wayne Cole; Editing by Stephen Coates)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Israel's election will be held on October 27, coalition head says
• Israeli attacks in Gaza kill six people, including a girl, medics say
• Iran's IRNA says 'enemy' launches missiles towards Qeshm Island