The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell 5.6 percent month-over-month in May 2022, the most since June 2015 and down for the sixth month in a row, amid a combination of surging prices and the prospect of faster interest rate hike. The index now stands at 90.4, the lowest since August 2020, and 8.4% below the average in 2019. The measure of family finances over the next 12 months slumped 11.2% to 93.3 while finances compared with a year ago edged up 0.3% to 79.6 following a sharp fall in April. At the same time, the gauge of the economic outlook for the next 12 months sank 5.8% to 90.4, and that for the next five years lost 4.1% to 96.2. Also, the measure of whether it was a good time to buy a major household item slid 5.7% to 92.6. Meantime, unemployment expectations climbed 10.5% to 109.6, below the long-term average of around 130. The gloomy mood could spell trouble for Prime Minister Scott Morrison who faces an election later this month. source: Westpac Banking Corporation, Melbourne Institute

Consumer Confidence in Australia averaged 101.26 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 May of 2022.

Consumer Confidence in Australia is expected to be 99.20 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.

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Australia Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-05-11 12:30 AM Westpac Consumer Confidence Index May 90.4 95.7 94.7
2022-05-11 12:30 AM Westpac Consumer Confidence Change May -5.6% -0.9% -1%
2022-06-15 12:30 AM Westpac Consumer Confidence Index Jun


Related Last Previous Unit Reference
Consumer Confidence 90.40 95.77 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
90.40 95.77 123.94 64.61 1974 - 2022 points Monthly
SA

News Stream
Australia Consumer Mood Plunges in May
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell 5.6 percent month-over-month in May 2022, the most since June 2015 and down for the sixth month in a row, amid a combination of surging prices and the prospect of faster interest rate hike. The index now stands at 90.4, the lowest since August 2020, and 8.4% below the average in 2019. The measure of family finances over the next 12 months slumped 11.2% to 93.3 while finances compared with a year ago edged up 0.3% to 79.6 following a sharp fall in April. At the same time, the gauge of the economic outlook for the next 12 months sank 5.8% to 90.4, and that for the next five years lost 4.1% to 96.2. Also, the measure of whether it was a good time to buy a major household item slid 5.7% to 92.6. Meantime, unemployment expectations climbed 10.5% to 109.6, below the long-term average of around 130. The gloomy mood could spell trouble for Prime Minister Scott Morrison who faces an election later this month.
2022-05-11
Australia Consumer Mood Falls for 5th Month
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 0.9 percent month-over-month in April 2022, down for the fifth month running, amid the rising inflation, the risk of higher interest rates and widespread flooding across the east coast. The survey suggested the government's budget in March had a limited impact on the national mood, even though it contained pre-election tax breaks and cuts to fuel excise. The measure of family finances compared with a year ago dropped by 4.8 percent, while the outlook for finances over the next 12 months declined 0.9 percent. In addition, the gauge whether it was a good time to buy a major household item plunged 5.3 percent. By contrast, measure of the economic outlook for the next 12 months bounced 5.8 percent after a sharp fall in March, while the outlook for the next five years rose 1.0 percent.
2022-04-13
Australia Consumer Sentiment Falls to 18-Month Low
The Consumer Sentiment Index in Australia declined 4.2% MoM to 96.6 points in March 2022, weighed down by concerns over the war in Ukraine, the floods in south-east Queensland and Northern NSW and expectations of higher inflation and interest rates. This is the weakest print since September 2020, which is also the last time the index was below the 100-level indicating that pessimists outnumber optimists. All five sentiment sub-indexes recorded declines in March. The ‘economy, next 12 months’ sub-index fell by 6.7% while the ‘economy, next 5 years’ sub-index was down by 5.8%. The ‘finances vs a year ago’ sub-index also fell by 3.9% and the ‘time to buy a major household item’ sub-index slid 4.4%. The Westpac Melbourne Institute Index of Unemployment Expectations fell 1.1% to 101.8 in March from 102.8 in February.
2022-03-09