The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia increased by 2.0% mom to 106.2 in September 2021, amid hopes that COVID-19 curbs would be eased soon following an acceleration in vaccinations. The economic conditions in the next 5 years rose by 4.8 percent to 114.5 and those in the next 12 months gained 4.6 percent to 105.0. Also, the family finances economic conditions in the next 12 months advanced 2.1 percent to 109.2 and those vs a year ago went up 1.7 percent to 93.5. At the same time, unemployment expectations dropped 3.3 percent to 120.5. On the other hand, time to buy a major household item fell 2.7 percent to 109.0. The resilience of consumer sentiment in a period when Australia’s two major cities have been locked down and the economy has been contracting is truly remarkable," said Westpac chief economist Bill Evans. "The improving vaccine situation appears to be a key factor behind these results." source: Westpac Banking Corporation, Melbourne Institute

Consumer Confidence in Australia averaged 101.28 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 September of 2021.

Consumer Confidence in Australia is expected to be 102.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Consumer Confidence is projected to trend around 98.00 points in 2022, according to our econometric models.

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Australia Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
106.20 104.10 123.94 64.61 1974 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-08-11 12:30 AM Westpac Consumer Confidence Change Aug -4.4% 1.5% 0.2%
2021-08-11 12:30 AM Westpac Consumer Confidence Index Aug 104.1 108.8 109
2021-09-15 12:30 AM Westpac Consumer Confidence Index Sep 106.2 104.1 102
2021-09-15 12:30 AM Westpac Consumer Confidence Change Sep 2% -4.4% -2%
2021-10-13 11:30 PM Westpac Consumer Confidence Change Oct 2%
2021-10-13 11:30 PM Westpac Consumer Confidence Index Oct 106.2
2021-11-10 11:30 PM Westpac Consumer Confidence Change Nov
2021-11-10 11:30 PM Westpac Consumer Confidence Index Nov


News Stream
Australia Consumer Sentiment Recovers
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia increased by 2.0% mom to 106.2 in September 2021, amid hopes that COVID-19 curbs would be eased soon following an acceleration in vaccinations. The economic conditions in the next 5 years rose by 4.8 percent to 114.5 and those in the next 12 months gained 4.6 percent to 105.0. Also, the family finances economic conditions in the next 12 months advanced 2.1 percent to 109.2 and those vs a year ago went up 1.7 percent to 93.5. At the same time, unemployment expectations dropped 3.3 percent to 120.5. On the other hand, time to buy a major household item fell 2.7 percent to 109.0. The resilience of consumer sentiment in a period when Australia’s two major cities have been locked down and the economy has been contracting is truly remarkable," said Westpac chief economist Bill Evans. "The improving vaccine situation appears to be a key factor behind these results."
2021-09-15
Australia Consumer Sentiment Lowest in A Year
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 4.4% mom to the lowest in a year of 104.1 in August 2021, as three major cities in the country were in lockdowns. All index components declined: the economic conditions in the next 12 months (-8.3 percent to 100.4), the family finances economic conditions in the next 12 months (-2.7 percent to 107.0), the family finances vs a year ago (-1.9 percent to 91.9), the economic conditions in the next 5 years (-1.2 percent to 109.2), and time to buy a major household item (-7.2 percent to 112.0). At the same time, unemployment expectations jumped sharply (13.7 percent to 124.6). “This is a significant further loss of confidence but better than might have been expected given virus developments," said Westpac chief economist Bill Evans. Despite the deteriorating situation, sentiment has remained in positive territory, even in parts of the country facing the biggest virus challenges.
2021-08-11
Australia Consumer Sentiment Rises
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia rose by 1.5 percent to 108.8 in July 2021, as concerns over the virus outbreak and associated restrictions in New South Wales were not spilling over to the rest of the country. The family finances vs a year ago rose the most by 4.6 percent to 93.7, followed by the family finances for the next 12 months (2.5 percent to 109.9), economic conditions in the next 12 months (0.8 percent to 109.5), and time to buy a major household item (3.5 percent to 120.6). In contrast, the economic conditions in the next five years fell 3.1 percent to 110.5). "Confidence has held up overall despite a sharp fall in NSW as other states – notably Victoria and Western Australia – recorded strong bounce-backs from COVID-related disruptions in June," said Westpac chief economist Bill Evans. The survey was conducted over the week of July 5–9, when Sydney was locked down but restrictions were tightened further on July 9.
2021-07-14
Australia Consumer Sentiment Lowest in 5 Months
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 5.2 percent to a five-month low of 107.2 in June 2021, amid concerns over a lockdown in Melbourne and some disappointment around the federal budget. The latest reading also reflected a statistical correction in May following a very strong surge in April to an eleven-year high. All components of the index dropped, with most of them falling back to their January's level: family finances vs a year ago (-8.5 percent to 89.6); family finances for the next 12 months (-2 percent to 107.3); economic conditions in the next 12 months (-10.3 percent to 108.7); economic conditions in the next five years (-1.4 percent to 114.0); and time to buy a major household item (-4.1% to 116.5). In addition, the unemployment expectations index jumped 8.2 percent to 108.4.
2021-06-09

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.