Australia Consumer Confidence May 2022

Australia

Australia: Consumer sentiment falls in May

May 23, 2022

The Westpac-Melbourne Institute consumer sentiment index decreased to 90.4 in May from 95.8 in April, marking the lowest reading since August 2020. Therefore, sentiment moved further below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.

May’s drop came on the back of deteriorated households’ willingness to buy major household items as well as worsened expectations of family finances in the next 12 months. Moreover, expectations over the economy in the next 12 months and five years deteriorated.



FocusEconomics panelists are still assessing the latest developments.

FocusEconomics panelists are still assessing the latest developments.


Author: Massimo Bassetti, Senior Economist

Sample Report

Looking for forecasts related to Consumer Confidence in Australia? Download a sample report now.

Download




Australia Economic News

More news

Search form