‘People are spooked’: Australia’s January consumer confidence sinks to three-decade low over Omicron

Australian consumer sentiment has dropped sharply in January over fears of the rampant spread of the Omicron Covid variant. Photograph: Bianca de Marchi/AAP

Australia’s consumer sentiment dived this month as worries about the explosion in Omicron Covid cases sent confidence to its lowest January level since 1992, according to the latest ANZ-Roy Morgan survey.

Consumer confidence fell 7.6% last week, sinking to its lowest rate since October 2020. Omicron case numbers surged across Australia, straining testing facilities and disrupting everything from supply chains to hairdressing salons.