Consumer sentiment dropped significantly for a second straight month in June, providing more evidence the RBA may remain on hold for the time being.
For June, an index of consumer sentiment fell 5.7% from May, following a 7% drop the month before. The index fell to 101.9 points in June in seasonally adjusted terms from 108.0 points in May, compilers Westpac and the Melbourne Institute said.
Standing out in the report were concerns about international economic conditions, which registered the worst reading since the end of the global financial crisis.