The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia dropped by 3.0% month-over-month in August 2022, down for the ninth month in a row, amid surging prices and the prospect of more tightening by the country's central bank. The index now stands at 81.2, the lowest since August 2020, falling 22.0 percent from August 2021 and near 22 percent from last November. The gauge of the economic outlook for the next 12 months slumped 8% to 73.9, and that for the next five years fell 1% to 90.7. At the same time, the measure of whether it was a good time to buy a major household item tumbled 8.4 percent to 81.4. Further, consumers were also downbeat about their own employment prospects, with the index down 5.8 percent to 103.4. In contrast, the measure of family finances compared with a year ago edged up 0.1 percent to 72.1, but that over the next 12 months rose 2.3 percent to 88.2. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia averaged 101.17 points from 1974 until 2022, 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 August of 2022.
Consumer Confidence in Australia is expected to be 112.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Consumer Confidence is projected to trend around 100.00 points in 2023 and 98.00 points in 2024, according to our econometric models.