The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia rose by 0.6% mom to 105.3 in November 2021, as the economy emerged from the pandemic amid the success of vaccination rollouts and relief from the loosening in Sydney and Melbourne. The economic conditions in the next 12 months increased by 3.3% to 106.6 while those in the next 5 years went up 2.6% to 111.0. Also, the time to buy a major household item gained 1.8% to 111.9, on a rebalancing in spending from goods back towards services ahead of Christmas. Meanwhile, the family finances economic conditions vs a year ago fell 4.5% to 88.1, and the gauge for family finances in the next 12 months was down 0.7% to 108.9. On top of that, expectations about employment were at their best level since the mid-1990s. "The level of the consumer sentiment index is almost identical to the level just over a year ago in October 2020 (105.0) and has remained steady over the last two months," said Westpac chief economist Bill Evans. source: Westpac Banking Corporation, Melbourne Institute

Consumer Confidence in Australia averaged 101.29 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 December of 2021.

Consumer Confidence in Australia is expected to be 105.00 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 98.00 points in 2022, according to our econometric models.

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Australia Consumer Confidence


Calendar GMT Actual Previous Consensus TEForecast
2021-11-09 11:30 PM Westpac Consumer Confidence Index Nov 105.3 104.6 104
2021-11-09 11:30 PM Westpac Consumer Confidence Change Nov 0.6% -1.5% -0.6%
2021-12-14 11:30 PM Westpac Consumer Confidence Change Dec 0.6%


Related Last Previous Unit Reference
Consumer Confidence 105.30 104.64 points Nov/21

News Stream
Australia Consumer Mood Rises
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia rose by 0.6% mom to 105.3 in November 2021, as the economy emerged from the pandemic amid the success of vaccination rollouts and relief from the loosening in Sydney and Melbourne. The economic conditions in the next 12 months increased by 3.3% to 106.6 while those in the next 5 years went up 2.6% to 111.0. Also, the time to buy a major household item gained 1.8% to 111.9, on a rebalancing in spending from goods back towards services ahead of Christmas. Meanwhile, the family finances economic conditions vs a year ago fell 4.5% to 88.1, and the gauge for family finances in the next 12 months was down 0.7% to 108.9. On top of that, expectations about employment were at their best level since the mid-1990s. "The level of the consumer sentiment index is almost identical to the level just over a year ago in October 2020 (105.0) and has remained steady over the last two months," said Westpac chief economist Bill Evans.
2021-11-10
Australia Consumer Confidence Eases
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia fell by 1.5% mom to 104.6 in October 2021, as worries over the longer-term outlook for the economy overshadowed relief from the loosening of COVID-19 restrictions. The economic conditions in the next 5 years dropped 5.6 percent to 108.1 and those in the next 12 months were down 1.7 percent to 103.2. Also, the family finances economic conditions vs a year ago declined 1.3 percent to 92.3. In contrast, the gauge for family finances in the next 12 months advanced 0.5 percent to 109.7. Also, the time to buy a major household item went up 0.9 percent to 109.9. Westpac chief economist Bill Evans said sentiment had improved in Sydney and Melbourne but fell sharply outside those cities as respondents were cautious that the resumption of inter-state travel could bring more infections to the regions.
2021-10-13
Australia Consumer Sentiment Recovers
The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia increased by 2.0% mom to 106.2 in September 2021, amid hopes that COVID-19 curbs would be eased soon following an acceleration in vaccinations. The economic conditions in the next 5 years rose by 4.8 percent to 114.5 and those in the next 12 months gained 4.6 percent to 105.0. Also, the family finances economic conditions in the next 12 months advanced 2.1 percent to 109.2 and those vs a year ago went up 1.7 percent to 93.5. At the same time, unemployment expectations dropped 3.3 percent to 120.5. On the other hand, time to buy a major household item fell 2.7 percent to 109.0. The resilience of consumer sentiment in a period when Australia’s two major cities have been locked down and the economy has been contracting is truly remarkable," said Westpac chief economist Bill Evans. "The improving vaccine situation appears to be a key factor behind these results."
2021-09-15

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.