In April, the index of consumer sentiment, published by Westpac and the Melbourne Institute, rose to 105.3 points, up from the nine month low of 104.1 points in March. With the April increase, the index moved further above the long-term average of 100 points. The monthly increase in consumer sentiment came on the back of a favourable scenario for households, as the pause in the RBA monetary policy tightening cycle was extended and labour market conditions remained favourable. The continued increase in oil prices, fuelled by the ongoing political turmoil in the Middle East and North Africa, partially muted the positive impact of improved consumer confidence in the Australian economy. Against this backdrop, households' expectations regarding their financial situation improved compared to the previous month and consequently they expressed a higher willingness to purchase durable goods in comparison with the March survey.
Australia Consumer Confidence
Consumer confidence picks up in April
April 13, 2011
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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.