Australia Consumer Confidence

Last Release

Apr 30, 2024

Actual

82.4

Units In

Points

84.4

Frequency

Monthly

Next Release

May 13, 2024

Time to Release

1 Months 1 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
123.94 May 2007	64.61 Nov 1990	100.49 Points	1974-2024	N/A

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.

Latest Updates

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.”