Australia: Consumer sentiment strengthens in September
The Westpac-Melbourne Institute consumer sentiment index increased to 84.4 in September from 81.2 in August, which had marked the lowest reading since August 2020. Nevertheless, sentiment remained entrenched below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.
September’s uptick came on the back of improved households’ willingness to buy major household items. Moreover, expectations over the economy in the next 12 months and five years strengthened, as did expectations over family finances in the next 12 months.
FocusEconomics panelists are still assessing the latest developments.