Australia Consumer Confidence

Australia

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.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is unchanged from last month’s forecast. In 2015, panelists see private consumption expanding 2.9%.


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Australia Consumer Confidence June 2014

Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac-Melbourne Institute Survey of Consumer Sentiment.


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