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.
Author: Christopher Mc Innes, Economist