Australia: Consumer confidence inches up in June
June 13, 2012
In June, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 95.6 points. The figure was only slightly up from the 95.3 points recorded in May but marked nonetheless a second consecutive increase in the index. In spite of the improvement, the index remains below its long-term average of 101.7 points. The June reading was driven by an improvement in the respondents' assessment of their own financial situation compared to the previous year, with the corresponding sub-index rising 4.6% over the previous month. In contrast, expectations on future households' financial conditions deteriorated compared to the previous month, whereas the sub-index related to the intentions to purchase major household items improved strongly.
Author: Armando Ciccarelli, Head of Data Solutions