Australian consumers are “really soft” and could potentially get businesses caught up in an economic slowdown, says NAB’s Chief Economist Alan Oster.
“I think consumers are really worried about what the hell they’re going to do, how can they live,” Mr Oster told Sky News Business Reporter Edward Boyd.
“I think that consumer is the one that’s going to drive this slow down, and businesses will get caught up. “Ultimately, when consumers stop spending, then that flows into essentially issues for business because they don’t or aren’t able to basically sell their stuff.”
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