In May, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 95.3 points. The figure was up from the 94.5 points recorded in April and marked the first increase in the index in four months. As a result, the index edged closer to its long-term average of 101.7 points. The May reading was driven by an improvement in the respondents' assessment of their own financial situation compared to the previous year, with the corresponding sub-index rising a strong 17.0% over the previous month. In contrast, expectations on future households' financial conditions deteriorated compared to the previous month, which was reflected in a decline in the sub-index related to the intentions to purchase major household items, which now sits at its lowest level since June 2009.
Australia Consumer Confidence
Consumer confidence rebounds in May
May 16, 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.