Australia Consumer Confidence February 2017

Australia

Australia: Consumer sentiment improves in February

February 15, 2017

The Westpac-Melbourne Institute Survey of Consumer Sentiment rose 2.3% in February as the index inched up from January’s 97.4 to 99.6. The index did not surpass the 100 mark, indicating that the number of pessimists still outnumbers optimists.

The Institute noted that February’s improvement came on the back of consumers’ more positive opinions about the economy. This has increased households’ appetite for larger purchases. Nevertheless, the soft labor market remained a point of concern for consumers, while rising interest rates also served to keep the index below the 100 mark.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2017, which is unchanged from last month’s forecast. In 2018, panelists also see private consumption expanding 2.6%.


Author:, Economist

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Australia Consumer Confidence February 2017

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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