The new year mojo is dead on arrival… Consumer confidence has plunged to its worst January result in 30 years. Experienced hands will remember 1992 was a time of high unemployment – so we’re feeling as good about the economy as we were back then… That’s the findings of an ANZ-Roy Morgan survey, which attributes the fall in sentiment to the rise of Omicron and supply chain issues which have resulted in shortages of stuff at the shops. And as people isolate, spending on travel and hospitality has been slashed, and we’ve been more inclined to eat at home than dine out. To put some numbers to the feelz, ANZ says spending slipped 27% in the first half of January compared to the pre-Christmas period. “We don’t think the economy is as weak as this data might suggest,” says ANZ economist David Plank. “But the result highlights that concerns about COVID have the potential to significantly impact the economy if they linger.”