Australia: Consumer sentiment dips in January
January 21, 2021
The Westpac-Melbourne Institute consumer sentiment index dropped to 107.0 in January from 112.0 in December—which had marked the highest reading since October 2010. However, sentiment remained comfortably above the 100-mark, indicating that there were more optimists than pessimists among Australian consumers.
January’s reading came mainly on the back of weaker perceptions of family finances compared to one year ago; less optimistic expectations over the economy in the next 12 months and five years; and rising unemployment expectations.
FocusEconomics panelists are still assessing the latest developments.