Australia Consumer Confidence

Last Release

Dec 31, 2024

Actual

92.8

Units In

Points

94.6

Frequency

Monthly

Next Release

Jan 15, 2025

Time to Release

28 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
123.94 May 2007	64.61 Nov 1990	100.31 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% to 92.8 points in December 2024, reversing two months of positive momentum. This decline reflects a renewed pessimism about the economic outlook, with the sub-index tracking the "economic outlook for the next 12 months" plunging 9.6% to 91.2, and the "economic outlook for the next 5 years" falling 7.9% to 95.9. Both sub-indexes retraced approximately half of the gains made in the previous two months. Several factors likely contributed to this shift in sentiment, including a disappointing GDP update in Q3, inflationary concerns, and rate cut uncertainties. Despite this overall decline, consumers reported continued improvements in "current conditions," which assess financial well-being compared to a year ago and whether it is a good time to purchase major household items.