The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia jumped 4.1 percent month-over-month to the highest level since October 2010 of 112 in December 2020, after a 2.5 percent rise the previous month. It was the fourth straight month of increase in the index, amid the ongoing success across the nation in containing the COVID-19 outbreak. The index for economic conditions for the next 12 months surged 9.9% to a decade-high of 111.9 and that for economic conditions in the next five years jumped 5.9% to the highest since December 2009 of 121.1. Also, the gauge for family finances vs a year ago climbed 6.9% to 96.1, and time to buy a major household item rose 0.7% to 122.2. In contrast, the index for family finances for the next 12 months fell 1.8% to 108.9. "After only eight months the evidence seems clear that sentiment has fully recovered from the COVID recession," said Westpac chief economist Bill Evans. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia averaged 101.12 points from 1974 until 2020, reaching an all time high of 123.94 points in May of 2007 and a record low of 64.61 points in November of 1990. This page provides - Australia Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Consumer Confidence in Australia is expected to be 112.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Australia to stand at 102.00 in 12 months time. In the long-term, the Australia Consumer Confidence is projected to trend around 103.00 points in 2021 and 98.00 points in 2022, according to our econometric models.