The Westpac-Melbourne Institute Consumer Sentiment index in Australia fell 2.4% to 82.4 points in April 2024, sliding for the second consecutive month as persistent inflation and high interest rates continued to weigh on Australian households. The index has also held below 100 for over two years, the longest since the early-1990s recession, indicating pessimists heavily outweigh optimists. The 12-month and the 5-year outlooks for the economy slipped 2.7% and 4.4%, respectively. Meanwhile, markets expect the Reserve Bank of Australia to start lowering rates late this year, but robust jobs data and rising house prices clouded the outlook. Matthew Hassan, a senior economist at Westpac said: “The bank’s latest commentary shows it is becoming a little more comfortable that further rate rises will not be required but it is not yet confident enough about the inflation outlook to consider the case for rate cuts.”. source: Westpac Banking Corporation, Melbourne Institute
Consumer Confidence in Australia decreased to 82.40 points in April from 84.40 points in March of 2024. Consumer Confidence in Australia averaged 100.51 points from 1974 until 2024, reaching an all time high of 123.90 points in May of 2007 and a record low of 64.60 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 April of 2024.
Consumer Confidence in Australia decreased to 82.40 points in April from 84.40 points in March of 2024. Consumer Confidence in Australia is expected to be 84.00 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 2025 and 105.00 points in 2026, according to our econometric models.