In September, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 98.2 points. The figure was up from the 96.6 points recorded in August, and represented the fourth increase seen in the last five months. However, the reading marked the seventh month in a row in which the index sits below the 100-point threshold that separates optimistic from pessimistic territory. According to the survey, the improvement was broad-based, as four out of the five components of the index recorded better results compared to the previous month. In particular, the strongest improvement was experienced by the component related to households' short-term expectations (12 months) on their financial situation. On the other hand, the sub-index related to the intentions to purchase major household items deteriorated slightly compared to August.
Australia Consumer Confidence
Sentiment improves but remains in negative territory for seventh consecutive month
September 15, 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.