Australia: Sentiment improves but remains in negative territory for seventh consecutive month
September 15, 2012
In September, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 98.2 points. The figure was up from the 96.6 points recorded in August, and represented the fourth increase seen in the last five months. However, the reading marked the seventh month in a row in which the index sits below the 100-point threshold that separates optimistic from pessimistic territory. According to the survey, the improvement was broad-based, as four out of the five components of the index recorded better results compared to the previous month. In particular, the strongest improvement was experienced by the component related to households' short-term expectations (12 months) on their financial situation. On the other hand, the sub-index related to the intentions to purchase major household items deteriorated slightly compared to August.
Author: Armando Ciccarelli, Head of Data Solutions