Australia: Consumer sentiment stable in March
The Westpac-Melbourne Institute consumer sentiment index was stable at February’s 78.5 in March. Consequently, sentiment remained entrenched below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.
March’s reading saw deteriorated households’ expectations over the economy in the next 12 months as well as bleaker expectations over family finances in the next 12 months. Additionally, willingness to buy major household items fell. On the other hand, assessments of family finances improved, as did expectations over the economy in the next five years.