Australia Consumer Confidence September 2018

Australia

Australia: Consumer sentiment moderates in September further but remains in positive territory

September 12, 2018

The Westpac-Melbourne Institute consumer sentiment index declined from 103.6 in August to 100.5 in September. Nevertheless, it remained slightly above the 100-point mark that separates optimism from pessimism among consumers, where it has now been for ten consecutive months.

September’s fall was the result of a broad-based deterioration in almost all components of the index. Consumers’ views of economic conditions over the next five years declined significantly in September. However, their expectations of the economic outlook over the next 12 months recorded the smallest fall, which was probably due to the strong performance of the economy as reflected by the recently released Q2 figures. Moreover, both sub-indexes remained well above their long run averages.

Consumers were also less optimistic about family finances compared to a year ago and held less positive expectations on family finances for the coming 12 months, most likely a consequence of rising mortgage interest rates, subdued wage growth, dropping real estate prices and higher oil prices. These factors translated into a reduced willingness to purchase major household items in September. Meanwhile, they were less concerned about future unemployment although were less likely to buy a dwelling despite ongoing price corrections in the housing market, due to higher mortgage rates.

Australia Private Consumption Forecast


FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2018, which is up 0.2 percentage points from last month’s forecast, and 2.5% again in 2019.


Author: Massimo Bassetti, Senior Economist

Sample Report

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

Download

Australia Consumer Confidence Chart


Australia Consumer Confidence September 2018

Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac-Melbourne Institute Survey of Consumer Sentiment.


Australia Economic News

  • Australia: Retail sales contract in December

    January 25, 2021

    Nominal retail sales in December shrank 4.2% over the previous month in seasonally-adjusted terms, contrasting November’s 7.1% surge. December’s result came on the back of declines in household goods retailing, clothing, footwear and personal accessory retailing, department stores, food retailing and other retailing. In annual terms, retail sales jumped 12.1% in November (the latest month for which data is available), following October’s 7.7% expansion.

    Read more

  • Australia: Unemployment rate at eight-month low in December

    January 25, 2021

    Seasonally-adjusted employment soared by 50,000 in December, following 90,000 jobs gain in November.

    Read more

  • Australia: Consumer sentiment dips in January

    January 21, 2021

    The Westpac-Melbourne Institute consumer sentiment index dropped to 107.0 in January from 112.0 in December—which had marked the highest reading since October 2010.

    Read more

  • Australia: Unemployment rate at eight-month low in December

    January 21, 2021

    Seasonally-adjusted employment soared by 50,000 in November, following 90,000 jobs gain in November.

    Read more

  • Australia: Retail sales jump in November

    January 11, 2021

    Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.

    Read more

More news

Search form