Australia Consumer Confidence


Consumer confidence falls significantly in September

The Westpac-Melbourne Institute Survey of Consumer Sentiment inched up from the 94.0 points tallied in September to 94.8 points in October. The indicator still rests below the 100-point threshold that separates pessimistic from optimistic territory.

According to the Institute, October’s print is better than expected, given how volatile global financial markets have been this month. The Australian dollar has depreciated by approximately 6% compared to the USD since the last consumer survey. In addition, the Institute commented that, “while the index seems to be “stuck” in a pessimistic range there is no sign, at this stage, of ongoing deterioration.”

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is unchanged from last month’s forecast. In 2015, panelists see private consumption expanding 2.8%.

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Australia Consumer Confidence Chart

Australia Consumer Confidence October 2014

Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac-Melbourne Institute Survey of Consumer Sentiment.

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