Australia: Consumer sentiment continues its slide in June
June 14, 2017
The Westpac-Melbourne Institute Index of Consumer Sentiment came in at 96.2 in June, down 1.8% from May’s 98.0. The index thus fell further below the 100 mark, indicating that the number of pessimists still outnumbers optimists.
This month’s result was negatively affected by renewed fears about the country’s economic outlook. Households found their finances were in a worse state than a year ago, with continued weak wage growth and rising mortgage rates weighing heavily on household income. Nevertheless, survey participants remain relatively upbeat about their financial future.
Author: Christopher Mc Innes, Economist