The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia rose 2.3 percent month-over-month to 95.5 in January 2020 from 93.4 in the previous month. The latest reading reflected easing concerns around the impact of bushfires and shows improvement despite some fears of the coronavirus outbreak. Economic conditions for the next 12 months (+5.4 percent to 89.3) and for the next five years (+4.3 percent to 91.6) increased, both sub-indexes partially reversing the sharp falls
seen over the previous two months. Also, time to buy major household item rose (+2.7 percent to 116.4). Meanwhile, expectations regarding unemployment went up (+0.6 percent to 134.7), consistent with a slowdown in jobs growth and steady rise in the unemployment and underemployment rates over the year ahead. Additionally, family finances versus a year ago declined 1 percent to 81.2 points.
Consumer Confidence in Australia averaged 101.29 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. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia is expected to be 96.00 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 106.00 points in 2021, according to our econometric models.