In February, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 101.1 points, marking an improvement compared to the 97.1 points recorded in January. Due to the sizable increase, the index edged closer to its long-term average of 101.8 points and is now at its highest level in four months. All the sub-components of the index picked up compared to the previous month. The sharpest improvement was experienced by the component related to expectations about the economic situation in the next 12 months. Furthermore, households were more upbeat about their future personal financial situation, leading to a 1.8% increase in their intentions to purchase a major household item.
Australia Consumer Confidence
Consumer confidence rises to highest level in four months
February 15, 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.