In July, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 99.1 points. The figure was up from the 95.6 points recorded in June, marking a third consecutive increase and the highest reading in five months. In spite of the improvement, the index remains below the 100-point threshold that separates optimistic from pessimistic territory. The July reading reflected the positive impact on households sentiment of the recent cuts to the policy rate by the Central Bank. All components of the index improved compared to the previous month. In particular, expectations on general economic conditions in the short-term (12 months) marked the strongest increase (+5.8% month-on-month), which was also reflected in an improvement of the sub-index related to the intentions to purchase major household items.
Australia Consumer Confidence
Consumer confidence picks up in July
July 11, 2012
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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.