Sydney Australia skyline

Australia Consumer Confidence September 2019

Australia: Consumer sentiment moves back into negative territory in September

The Westpac-Melbourne Institute consumer sentiment index dropped from 100.0 points in August to 98.2 points in September. Therefore, it returned below 100-point mark indicating that there were more pessimists than optimists among Australian consumers.

There was an across-the-board deterioration in September. Consumers’ expectations over the general economic situation in the year ahead soured in the month, likely affected by the release of disappointing national accounts data for Q2 and by persistent international trade tensions. Furthermore, consumers’ sentiment regarding their current and future financial situation worsened—which was also reflected in weaker willingness to buy a major household item—weighed down by concerns on sluggish wage growth and low returns on financial assets, and despite the recent interest rate cuts and improving housing market conditions. Recovering house prices in Melbourne and Sidney were probably behind the decreased willingness to buy a dwelling. The only bright spot was that consumers’ outlook over the general economic situation in the next five years improved, suggesting households see current economic woes as only temporary.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen