Australia Consumer Confidence October 2018


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.


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

More news

Search form