Australia Consumer Confidence

Last Release

Nov 30, 2024

Actual

94.6

Units In

Points

89.8

Frequency

Monthly

Next Release

Dec 12, 2024

Time to Release

29 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
123.94 May 2007	64.61 Nov 1990	100.32 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 rose 5.3% to 94.6 points in November 2024, improving for the second straight month and hitting the highest level in two-and-a-half years as the outlook on the economy and finances finally turned optimistic. Still, the index has now held below 100 for nearly three years, indicating pessimists continue to outnumber optimists. Key components of the index showed strong improvements: family finances compared to a year ago surged 6.8%, while expectations for the next 12 months rose by 4.4%. The economic outlook for the coming year jumped by 8.7%, and confidence in the five-year economic outlook rose by 6.5%. These gains were driven, in part, by easing concerns over future interest rate hikes. Matthew Hassan, Senior Economist at Westpac, commented, "Consumers are feeling less pressure on their family finances, no longer worried about further interest rate rises, and are increasingly confident in the economic outlook."