Australia: Consumer confidence falls again in April
April 13, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment decreased 4.0% in April. The index fell from 99.1 in March to 95.1 in April. A reading below 100 means that pessimists outnumber optimists and April’s reading indicates that the gulf between the two has widened.
The Institute noted that pessimistic headlines regarding financial hiccups in China and elsewhere may have impacted sentiment, it also suggested that the recent appreciation of the Australian dollar may have been interpreted by consumers as bad for future growth. Four of the five components of the index fell in April. There was a deterioration in households’ view of their financial situation compared to last year, and future financial expectations.
Author: Robert Hill, Economist