Australia: Consumer confidence moderates in December
December 10, 2014
The Westpac-Melbourne Institute Survey of Consumer Sentiment fell from the 96.6 points tallied in November to 91.1 points in December. Consequently, the indicator rests further below the 100-point threshold that separates pessimistic from optimistic territory.
According to the Institute, December’s print is disappointing, the index is now at its lowest level since August 2011. In addition, December’s figure marked the 10th consecutive month in pessimistic territory. The Institute commented that, “respondents have sharply lowered their assessments of the economic outlook and their spending intentions. They remain extremely nervous about job security while adopting a more cautious attitude towards both their finances and the outlook for housing.”