Australia Consumer Confidence November 2022

Australia

Australia: Consumer sentiment drops in November

November 9, 2022

The Westpac-Melbourne Institute consumer sentiment index decreased to 80.0 in November from 83.7 in October. Therefore, sentiment moved further below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.

November’s drop came on the back of deteriorated households’ expectations over the economy in the next 12 months and five years. Moreover, expectations over family finances in the next 12 months weakened. On top of this, willingness to buy major household items weakened.



FocusEconomics panelists are still assessing the latest developments.

FocusEconomics panelists are still assessing the latest developments.


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Australia Consumer Confidence November 2022

Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac-Melbourne Institute Survey of Consumer Sentiment


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