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.

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Australia Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
111.80 109.10 123.94 64.61 1974 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-09 11:30 PM Westpac Consumer Confidence Change Feb 1.9% -4.5% 1%
2021-02-09 11:30 PM Westpac Consumer Confidence Index Feb 109.1 107 108
2021-03-09 11:30 PM Westpac Consumer Confidence Change Mar 2.6% 1.9% 1.3%
2021-03-09 11:30 PM Westpac Consumer Confidence Index Mar 111.8 109.1 110
2021-04-14 12:30 AM Westpac Consumer Confidence Change Apr 2.6% 1%
2021-04-14 12:30 AM Westpac Consumer Confidence Index Apr 111.8 113
2021-05-12 12:30 AM Westpac Consumer Confidence Change May
2021-05-12 12:30 AM Westpac Consumer Confidence Index May


News Stream
Australia Consumer Confidence Near 10-Year High
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%.
2021-03-09
Australia Consumer Confidence Falls in January
The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia dropped 4.5 percent month-over-month to 107 in January from 112 in December, following a 4.1 percent gain in the previous month. All components fell in January. Components associated with the economic outlook with the 12-month outlook fell by 8.3% and the 5-year outlook dropped by 4.5%. “Westpac expects there will be a second purchase program of $100 billion although the Board may wait until as late as the April Board meeting to make the final decision,” said Bill Evans, Chief Economist.
2021-01-19
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
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.