Australia Consumer Confidence October 2016

Australia

Australia: Consumer sentiment improves in October

October 12, 2016

The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4. The increase nudged the index further above the 100 mark, indicating that the number of optimists outnumbers pessimists.

The Institute noted that consumer sentiment had continued to show strength despite significant adverse events over the past six months. The improvement stems from better expectations about the future, thanks in large part to the robust labor market.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.7% in 2016, which is unchanged from last month’s forecast. In 2017, panelists also see private consumption expanding 2.7%.


Author:, Economist

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Australia Consumer Confidence October 2016

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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