Markets

This indicator doesn’t bode well for Australia’s retail sector ahead of the Christmas shopping season

Westpac’s monthly gauge of Australian consumers showed optimists outnumbered pessimists for the 12th straight month. However, the percentage of respondents who plan to spend less money over Christmas rose to the highest level since 2014. Westpac’s monthly survey of consumer confidence was unexpectedly strong today, punctuated by an “exceptional rise” […]
This indicator doesn’t bode well for Australia’s retail sector ahead of the Christmas shopping season
Markets

Household budgets remain in focus as Australian consumers stay cautious

The Westpac—Melbourne Institute consumer confidence index edged slightly higher in June. Views towards household finances remain below their long-run average, while views toward the broader economy are more upbeat.. The results also provided some evidence that the Sydney housing market is re-calibrating amid ongoing price declines. Australian consumers remain cautiously […]
Household budgets remain in focus as Australian consumers stay cautious
Markets

It doesn’t look like Scott Morrison’s tax cuts have fired up Australian consumers

Westpac’s consumer survey shows last week’s tax cut announcement failed to give sentiment a meaningful boost. Chief economist Bill Evans called the latest results “disappointing”. Sentiment among Australian households remains subdued, despite the announcement of income tax cuts in last week’s federal budget. The latest Westpac-MI consumer sentiment index fell […]
It doesn’t look like Scott Morrison’s tax cuts have fired up Australian consumers
Markets

Pessimism returns as Australian households worry about the economic outlook

Australian consumer confidence dipped again in November after seeing a rise in the month prior. The Westpac-Melbourne Institute consumer sentiment survey recorded a 1.7% fall to 99.7. A reading of 100 is deemed neutral, meaning that the number of optimists and pessimists are the same. Any reading below 100 indicates […]
Pessimism returns as Australian households worry about the economic outlook