The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 2.6% to 111.8 in March, just 0.2 points below the December level which was a ten-year high driven by are improving economic conditions and prospects, both domestically and abroad, particularly as they relate to our labour market. Australia’s success in containing COVID-19, the promise of vaccine rollouts bringing an end to the pandemic, and support from stimulatory government policies have all contributed to the sustained lift. All components of the index were higher in March. Confidence around the economic outlook led the gains with the ‘economy, next 12 months’ sub-index up 3.7% and the
‘economy, next 5 years’ sub-index up 2.3%. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia averaged 101.17 points from 1974 until 2021, 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 April of 2021.
Consumer Confidence in Australia is expected to be 110.00 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 103.00 in 12 months time. In the long-term, the Australia Consumer Confidence is projected to trend around 98.00 points in 2022, according to our econometric models.