Australia Consumer Confidence April 2017

Australia

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.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.4% in 2017, which is unchanged from last month’s forecast. In 2018, panelists also see private consumption expanding 2.4%.


Author:, Economist

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Australia Consumer Confidence April 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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