In July, the index of consumer sentiment, published by Westpac and the Melbourne Institute, dropped to 92.8 points, which was down from the 101.2 points recorded in June and represented the first time that the index had dropped below the long-term average of 100 points since May 2009. According to the survey, the reading was strongly influenced by ongoing uncertainty related to the global economic scenario ? stemming in particular from the Eurozone debt crisis. In addition, sentiment was negatively affected by the government's intention to introduce a levy on carbon emissions ? governing authorities actually launched the plan for a carbon tax a day after the end of the survey. All sub-components of the index dropped in July. The components that dropped most notably were those related to both the current and future economic situation. That said, households' expectations regarding their future personal financial situation deteriorated markedly, resulting in a lower willingness to purchase durable goods in comparison with the previous month's survey.
Australia Consumer Confidence
Consumer confidence drops to two-year low
July 13, 2011
Looking for forecasts related to Consumer Confidence in Australia? Download a sample report now.
Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.