Australia Consumer Confidence October 2018

Australia

Australia: Consumer sentiment ticks up in October

October 10, 2018

The Westpac-Melbourne Institute consumer sentiment index rose from 100.5 in September to 101.5 in October. Therefore, it moved further above the 100-point mark that separates optimism from pessimism among consumers, where it has now been for 11 consecutive months.

October’s rise was mainly the result of consumers’ higher expectations of the economic outlook over the next 12 months and due to more positive expectations of family finances compared to a year ago. Moreover, consumers’ expectations of their family finances in the next 12 months also improved, although to a lesser extent. On the other hand, expectations of economic conditions in the next five years deteriorated slightly, while the “time to buy a major household item” sub-index remained virtually unchanged. Consumers were also more concerned about future unemployment and were less likely to buy a dwelling despite ongoing price corrections in the housing market, due to higher mortgage rates.

Australia Private Consumption Forecast


FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2019, which is unchanged from last month’s forecast, and 2.5% again in 2020.


Author: Massimo Bassetti, Senior Economist

Sample Report

Looking for forecasts related to Consumer Confidence in Australia? Download a sample report now.

Download

Australia Consumer Confidence Chart


Australia Consumer Confidence October 2018

Note: Index of consumer sentiment; 100-point threshold indicates equal number of positive and negative responses.
Source: Westpac-Melbourne Institute Survey of Consumer Sentiment.


Australia Economic News

  • Australia: Retail sales jump in November

    January 11, 2021

    Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.

    Read more

  • Australia: Unemployment rate drops in November

    December 17, 2020

    Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800).

    Read more

  • Australia: Business confidence at highest level in close to three years in November

    December 11, 2020

    The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018.

    Read more

  • Australia: Consumer sentiment at over 10-year high in December

    December 11, 2020

    The Westpac-Melbourne Institute consumer sentiment index surged from 107.7 in November to 112.0 in December, marking the highest reading since October 2010.

    Read more

  • Australia: Retail sales rebound in October

    December 4, 2020

    Nominal retail sales in October expanded 1.4% over the previous month in seasonally-adjusted terms, contrasting September’s 1.1% drop. Particularly pronounced increases were recorded in cafes, restaurants and takeaway food services, as well as in food clothing, footwear and personal accessory retailing.

    Read more

More news

Search form