Australia: Consumer confidence improves slightly in June
June 10, 2014
The Westpac-Melbourne Institute Survey of Consumer Sentiment inched up from the 92.9 points tallied in May to 93.2 points in June. Despite June’s timid increase, the indicator still rests slightly below the 100-point threshold that separates optimistic from pessimistic territory.
According to the Institute, May’s print was a response to the Federal Budget presented on 13 May and therefore there should have been a stronger rebound in June. Yet the timid increase in consumer confidence was unexpectedly low. The Institute attributed the small rebound to continued worries regarding the effects of the Budget and remarked that expectations over family finances remain unusually weak.