In April, the index of consumer sentiment published by Westpac and the Melbourne Institute dropped to 94.5 points, down from the 96.1 points recorded in March and marking a second consecutive monthly fall. Due to the deterioration, the index moved further below its long-term average of 101.8 points and is now at its lowest level since August last year. All the sub-components of the index deteriorated compared to the previous month. The sharpest decline was experienced by the component related to the personal financial situation compared to the previous year, which dropped by 14.4%. Expectations on the household's financial conditions also deteriorated compared to March. Nevertheless, the sub-index related to the intentions to purchase major household items recovered in April.
Australia Consumer Confidence
Consumer confidence drops to lowest level since August
April 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.