Australia: Consumer sentiment at over 10-year high in April
April 19, 2021
The Westpac-Melbourne Institute consumer sentiment index surged to 118.8 in April from 111.8 in March, logging the strongest reading in over 10 years. Therefore, sentiment moved further above the 100-mark, indicating that there were more optimists than pessimists among Australian consumers.
April’s improvement came on the back of much stronger expectations of family finances in the next 12 months and assessments of family finances compared to one year ago as well as more optimistic expectations over the economy in the next 12 months and five years. On the other hand, unemployment expectations deteriorated somewhat.
FocusEconomics panelists are still assessing the latest developments.