The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia jumped by 3.9% month-over-month in September 2022, reversing from a 3% fall in August and rising for the first time since November 2021. "The improvement is a little surprising, especially given continued sharp rises in the cost of living and the RBA’s decision during the survey week to make another 50bp hike in the cash rate," said Westpac chief economist Bill Evans. The gauge of the economic outlook for the next 12 months climbed 12.5% to 83.2 and that for the next five years rose 4.2% to 94.5. Also, the measure of whether it was a good time to buy a major household item increased 2.8 percent to 83.7. Meantime, measures of family finances were mixed as the outlook for finances over the next 12 months rose 4.7 percent to 92.3 while finances vs a year ago fell 4.8 percent to 68.6. On top of that, consumers were downbeat about their own employment prospects, with the index down 3.7 percent to 99.6. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia averaged 101.14 points from 1974 until 2022, 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 2022.
Consumer Confidence in Australia is expected to be 80.50 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 100.00 points in 2023 and 98.00 points in 2024, according to our econometric models.