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.

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Australia Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-09-13 12:30 AM Westpac Consumer Confidence Change Sep 3.9% -3% -1%
2022-09-13 12:30 AM Westpac Consumer Confidence Index Sep 84.4 81.2 80.5
2022-10-11 12:30 AM Westpac Consumer Confidence Index Oct 3.9%


Related Last Previous Unit Reference
Consumer Confidence 84.40 81.24 points Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
84.40 81.24 123.94 64.61 1974 - 2022 points Monthly
SA

News Stream
Australia Consumer Mood Bounces Back
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.
2022-09-13
Australia Consumer Mood Falls for 9th Month
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia dropped by 3.0% month-over-month in August 2022, down for the ninth month in a row, amid surging prices and the prospect of more tightening by the country's central bank. The index now stands at 81.2, the lowest since August 2020, falling 22.0 percent from August 2021 and near 22 percent from last November. The gauge of the economic outlook for the next 12 months slumped 8% to 73.9, and that for the next five years fell 1% to 90.7. At the same time, the measure of whether it was a good time to buy a major household item tumbled 8.4 percent to 81.4. Further, consumers were also downbeat about their own employment prospects, with the index down 5.8 percent to 103.4. In contrast, the measure of family finances compared with a year ago edged up 0.1 percent to 72.1, but that over the next 12 months rose 2.3 percent to 88.2.
2022-08-09
Australia Consumer Mood Weakens Further
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia dropped 3.0 percent month-over-month in July 2022, down for the eighth month in a row, amid surging prices and the prospect of more tightening by the country's central bank. The index now stands at 83.8, the lowest since April 2020, falling 23.0 percent from July 2021 and near 20 percent from last December. The gauge of the economic outlook for the next 5 years sank 6.7 percent to 91.6, and that for the next 12 months dropped 4.2 percent to 80.3. At the same time, the measure of family finances compared with a year ago slipped 2.8 percent to 72.0, but those over the next 12 months edged up 0.1 percent to 86.2 following a 7.6 percent slump in June. Meanwhile, the measure of whether it was a good time to buy a major household item fell 0.9 percent to 88.8. Consumers stayed upbeat about their own employment prospects, with the index up 1.1 percent to 109.8.
2022-07-12