Sydney Australia skyline

Australia Consumer Confidence June 2019

Australia: Consumer sentiment dips on weak national accounts but remains in optimistic territory in June

The Westpac-Melbourne Institute consumer sentiment index dipped to 100.7 in June from 101.3 in May. Therefore, it remained above the 100-point mark that separates optimism from pessimism among consumers.

June’s decline was most likely due to the publication of weak national accounts for Q1, which was seemingly behind the sizable drop in consumers’ expectations on the general economic situation in the year ahead, as well as of worse assessments of their family finance compared to a year ago. Mounting concerns regarding future job losses also appear to have been influenced by the first quarter’s subdued economic performance. That said, consumers’ expectations on their finances in the next 12 months improved, probably thanks to income tax cuts coming through and as the Reserve Bank of Australia (RBA) decided to cut rates in June. The RBA’s decision was also behind the surge in house prices expectations and the increased willingness to buy a dwelling seen in June.

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