Australia Consumer Confidence March 2017

Australia

Australia: Consumer sentiment remains virtually unchanged in March

March 15, 2017

The Westpac-Melbourne Institute Survey of Consumer Sentiment was virtually unchanged in March, rising just 0.1% from February’s 99.6 to 99.7. The index did not surpass the 100 mark, indicating that the number of pessimists still outnumbers optimists.

The Institute noted that March’s marginal improvement came on the back of consumers’ more positive opinions about the labor market in the year ahead. In addition, housing sentiment recovered from the sharp fall seen in February. Nevertheless, households remain downbeat when it comes to their own finances, a likely result of record low wage growth.

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 March 2017 0

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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