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.