Will the Grinch steal Christmas?

The data suggests Australian consumers are a fragile bunch. Look closer and you'll see a different story emerge.

Consumer confidence is atrocious at the moment. The budget crisis is getting worse, we’ve got an income recession and the terms of trade is collapsing around us! We’ll all be rooned! 

Bah humbug!

It’s not a great backdrop for Christmas spending though, and consumers are already a fragile bunch. Or so goes the common wisdom.  

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