Sydney Australia skyline

Australia Consumer Confidence June 2020

Australia: Consumer sentiment approaches pre-crisis levels in June

The Westpac-Melbourne Institute consumer sentiment index jumped to 93.7 in June from 88.1 in May, consequently recovering further ground from the index’s worst reading since February 1991 recorded last April. The robust increase was again fueled by the government’s success in bringing the coronavirus under control. That said, sentiment remained below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.

June’s improvement was broad-based, although the largest increases were again recorded for the near-term outlook for the economy and spending decisions. Consumers’ outlook over the general economic situation in the year ahead jumped, but remained entrenched in pessimistic terrain. Meanwhile, households’ expectations over the general economic situation in the next five years also gained ground, although the gain was somewhat less pronounced. Moreover, households’ willingness to make major purchases grew markedly, moving into positive terrain. Furthermore, consumers’ confidence regarding their future financial situation strengthened somewhat in June, while employment expectations improved considerably. Nevertheless, consumers’ assessments of “time to buy” a dwelling dipped likely as house prices expectations increased markedly.

FocusEconomics panelists are still assessing the latest developments.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest