Australia: Consumer sentiment inches down in April
April 12, 2017
The Westpac-Melbourne Institute Index of Consumer Sentiment came in at 99.0 in April, down 0.7% from March’s 99.7. The index fell further below the 100 mark, indicating that the number of pessimists still outnumbers optimists.
Westpac’s chief economist, Bill Evans, viewed this month’s result in quite a positive light. Considering the return of heightened uncertainty in the international environment, coupled with fears of a possible housing bubble and a weakening labor market, it might have been reasonable to expect consumer sentiment to be harder hit. Consumers were nevertheless confident about the state of their finances.
Author: Christopher Mc Innes, Economist