The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 5.2 percent to a five-month low of 107.2 in June 2021, amid concerns over a lockdown in Melbourne and some disappointment around the federal budget. The latest reading also reflected a statistical correction in May following a very strong surge in April to an eleven-year high. All components of the index dropped, with most of them falling back to their January's level: family finances vs a year ago (-8.5 percent to 89.6); family finances for the next 12 months (-2 percent to 107.3); economic conditions in the next 12 months (-10.3 percent to 108.7); economic conditions in the next five years (-1.4 percent to 114.0); and time to buy a major household item (-4.1% to 116.5). In addition, the unemployment expectations index jumped 8.2 percent to 108.4. source: Westpac Banking Corporation, Melbourne Institute

Consumer Confidence in Australia averaged 101.22 points from 1974 until 2021, reaching an all time high of 123.94 points in May of 2007 and a record low of 64.61 points in November of 1990. This page provides - Australia Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.

Consumer Confidence in Australia is expected to be 115.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Australia to stand at 100.00 in 12 months time. In the long-term, the Australia Consumer Confidence is projected to trend around 98.00 points in 2022, according to our econometric models.

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Australia Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
107.20 113.10 123.94 64.61 1974 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-05-19 12:30 AM Westpac Consumer Confidence Index May 113.1 118.8 117
2021-05-19 12:30 AM Westpac Consumer Confidence Change May -4.8% 6.2% -1.5%
2021-06-09 12:30 AM Westpac Consumer Confidence Change Jun -5.2% -4.8% 0.8%
2021-06-09 12:30 AM Westpac Consumer Confidence Index Jun 107.2 113.1 114
2021-07-14 12:30 AM Westpac Consumer Confidence Change Jul -5.2%
2021-07-14 12:30 AM Westpac Consumer Confidence Index Jul 107.2
2021-08-11 12:30 AM Westpac Consumer Confidence Index Aug
2021-08-11 12:30 AM Westpac Consumer Confidence Change Aug


News Stream
Australia Consumer Sentiment Lowest in 5 Months
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 5.2 percent to a five-month low of 107.2 in June 2021, amid concerns over a lockdown in Melbourne and some disappointment around the federal budget. The latest reading also reflected a statistical correction in May following a very strong surge in April to an eleven-year high. All components of the index dropped, with most of them falling back to their January's level: family finances vs a year ago (-8.5 percent to 89.6); family finances for the next 12 months (-2 percent to 107.3); economic conditions in the next 12 months (-10.3 percent to 108.7); economic conditions in the next five years (-1.4 percent to 114.0); and time to buy a major household item (-4.1% to 116.5). In addition, the unemployment expectations index jumped 8.2 percent to 108.4.
2021-06-09
Australia Consumer Sentiment Drops from 11-Year High
The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.7% month-on-month to 113.1 in May 2021 from an eleven-year high of 118.8 in April, due to some disappointment in the federal budget that includes few significant unexpected measures. Both family finance sub-indexes came off levels near eleven-year peaks, with the gauge for the next 12 months declining 6.9% to 109.5 and that for finances compared to a year ago dropping 5.4% to 97.9. Also, the measure for the economy in the next five years went down 6.7% to 115.6 and that for the economy in the next 12 months five fell 3.5% to 121.1. In addition, the gauge for time to buy a major household item decreased 1.5% to 121.5 as the reopening of the economy allowed consumers to spend more freely on discretionary services including travel, accommodation, entertainment, and dining.
2021-05-19
Australia Consumer Sentiment Soars to 11-Year High
The Westpac-Melbourne Institute Index of Consumer Sentiment surged 6.2% month-over-month to the highest reading since August 2010 of 118.8 in April 2021, buoyed by positive news around the labor market and a further easing in COVID-19 restrictions. The gauge for finances compared to a year ago jumped 13.4% to 103.5 and that for finances in the next 12 months rose 5.4% to 117.6, with both now near the record levels seen in 2009 and 2010. In addition, the measure for the economy in the next 12 months went up 10.3% to 125.5 and that for the economy in the next five years gained 4.1% to 123.8. In contrast, the gauge for time to buy a major household item fell 0.2% to 123.4 as buyers appear to be discouraged by the recent surge in prices and implications for affordability.
2021-04-14
Australia Consumer Confidence Near 10-Year High
The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 2.6% to 111.8 in March, just 0.2 points below the December level which was a ten-year high driven by are improving economic conditions and prospects, both domestically and abroad, particularly as they relate to our labour market. Australia’s success in containing COVID-19, the promise of vaccine rollouts bringing an end to the pandemic, and support from stimulatory government policies have all contributed to the sustained lift. All components of the index were higher in March. Confidence around the economic outlook led the gains with the ‘economy, next 12 months’ sub-index up 3.7% and the ‘economy, next 5 years’ sub-index up 2.3%.
2021-03-09

Australia Consumer Confidence
The Consumer Sentiment Index is based on a survey of over 1,200 Australian households. The Index is an average of five component indexes which reflect consumers' evaluations of their household financial situation over the past year and the coming year, anticipated economic conditions over the coming year and the next five years, and buying conditions for major household items. The index scores above 100 indicate that optimists outweigh pessimists.