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.

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Australia Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
112.00 107.70 123.94 64.61 1974 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-10 11:30 PM Westpac Consumer Confidence Index Nov 107.7 105 108
2020-11-10 11:30 PM Westpac Consumer Confidence Change Nov 2.5% 11.9% 3.8% 2.9%
2020-12-09 01:30 AM Westpac Consumer Confidence Index Dec 112 107.7 105
2020-12-09 01:30 AM Westpac Consumer Confidence Change Dec 4.1% 2.5%
2021-01-11 11:30 PM Westpac Consumer Confidence Index Jan 112
2021-01-11 11:30 PM Westpac Consumer Confidence Change Jan 4.1%
2021-02-11 11:30 PM Westpac Consumer Confidence Index Feb
2021-02-11 11:30 PM Westpac Consumer Confidence Change Feb


News Stream
Australia Consumer Sentiment Hits 10-Year High
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.
2020-12-09
Australian Consumer Confidence Hits 7-year High
The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia increased 2.5 percent month-over-month to 107.7 points in November of 2020, following an 11.9 percent jump in the previous month. It was the highest reading since November of 2013, amid the ongoing success across the nation in containing the coronavirus outbreak.
2020-11-11
Australia Consumer Confidence Jumps to Over 2-Year High
The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia increased 11.9 percent month-over-month to 105 points in October of 2020, following an 18 percent jump in the previous month. It was the highest reading since July of 2018, amid the ongoing success across the nation in containing the COVID-19 outbreak and the response to the October Federal Budget. All components of the Index were higher in October, the most striking improvements were around the outlook for the economy, with the surge in the five year outlook taken this sub-index to its highest level since August 2010. In addition, there was a stunning lift in confidence around job security, with the Index improving by 14.2% to be back around the levels of early 2019. Also, confidence in the housing market boomed, the ‘time to buy a dwelling’ index increased 10.6% to its highest level since September 2019.
2020-10-13
Australia Consumer Sentiment Soars in September
The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia surged 18 percent month-over-month to 93.8 in September 2020, reversing from a 9.5 percent fall a month earlier as Victoria state managed to curb a resurgence of COVID-19 cases while other states in the country prevented a second wave. Economic conditions for the next 12 months jumped 41 percent to 75.6, amid optimism that the damage from the virus could be contained; conditions for the next 5 years rebounded 19 percent to 99.8. Also, finances for the next 12 months sub-index jumped 11.2 percent to 101.2, and those vs a year ago also soared 11.2 percent to 87.5. In addition, time to buy a major household item lifted 16.3 percent to 105.1, due to rising household incomes as the federal government rolled out fiscal supports.
2020-09-09

Australia Consumer Confidence
The Consumer Sentiment Index is based on a survey of over 1,200 Australian households. The Index is an average of five component indexes which reflect consumers' evaluations of their household financial situation over the past year and the coming year, anticipated economic conditions over the coming year and the next five years, and buying conditions for major household items. The index scores above 100 indicate that optimists outweigh pessimists.