In October, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 99.2 points. The figure was up from the 98.2 points recorded in September and represents the fifth increase seen in the last six months. As a result, the index reached its highest level in eight months, closer to the 100-point threshold that separates optimistic from pessimistic territory, but still remaining in negative territory for the eight month in a row. According to the survey, the reading was driven by improvements in the sub-components related to households' current assessment and short-term expectations (12 months) on their financial situation. Accordingly, the sub-index related to the intentions to purchase major household items improved compared to September.
Australia Consumer Confidence
Consumer sentiment improves further in October
October 10, 2012
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Australia Consumer Confidence Chart
Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac - Melbourne Institute Survey of Consumer Sentiment.
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.