Australia Consumer Confidence January 2017

Australia

Australia: Consumers sentiment largely stable in January

January 18, 2017

The Westpac-Melbourne Institute Survey of Consumer Sentiment rose 0.1% in January as the index inched up from December’s 97.3 to 97.4. The index did not surpass the 100 mark, indicating that the number of pessimists still outnumbers optimists.

The Institute noted that January’s disappointing consumer sentiment reading may have suffered from December’s surprise announcement that GDP had contracted in Q3 2016. Economic expectations for the next 12 months rose, however, which is in line with a more positive outlook for the Australian economy, underpinned by a strengthening labor market, low interest rates and robust commodities prices, according to the Institute.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2017, which is unchanged from last month’s forecast. In 2018, panelists also see private consumption expanding 2.6%.


Author:, Economist

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Australia Consumer Confidence January 2017

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


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