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Main Indicator: WMI Consumer Sentiment m/m
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| -9.1% | -2.0% | -5.5% | N/A | ||
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For March Australian consumer confidence plunged to a near 15-year low in March. The Westpac-Melbournce Instititue consumer sentiment index fell 9.1%, undershooting expectations of an improvement from Tuesday. The fall in the indicator in the last 3 months has been rather steep showing consumers becoming more pessimistic about higher interest rates and a steep fall in the stock market. The news, along with a bigger than expected slowdown in GDP, most likely implies an end to the interest rate hiking campaign that the Reserve Bank of Australia has pursued in order to combat inflation. The Aussie has been on an uptrend in February vs the Dollar as the markets prices in the interest rate increases. The pair hit 0.9500 at the end of February, and is now heading back downward in the US Dollar's favor. The last two weeks may represent just a correction to the previous uptrend, though if the inflation comes down, and growth falters, the RBA may be forced to think about lowering rates in the future. |
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Table of Past Data
| 2/13 | 6/12 | 7/10 | 8/14 | 10/9 | 11/13 | 12/11 | 1/15 | 2/12 | 3/11 | ||
| Actual | 1.70% | -2.0% | -0.6% | -8.1% | -0.3% | -4.2% | 1.8% | -8.3 | -5.5% | -9.1% | |
| Forecast | -2.5% | 2.0% | -2.0% | -10.0% | -2.0% | ||||||
| Previous | 7.30% | 7.5% | -2.0% | -0.6% | 4.2% | -0.3% | -4.2% | 1.8% | -8.4% | -5.5% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -8.3% | N/A | |
Past Releases
|
Actual | Forecast | Previous | Revised Form | |
| -5.5% | -10.0% | -8.4% | -8.3% | ||
| For February | |||||
|
Actual | Forecast | Previous | Revised Form | |
| -8.3 | -2.0% | 1.8% | N/A | ||
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For January The Westpac consumer confidence fell from 112.5 in December to 103.1 in January and showed the largest decline in 14 months. Mortgage rates and falling Australian stock market combined with concerns of a global slowdown caused respondents to be more pessimistic. Gasoline prices also muffled optimistic outlooks. |
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|
Actual | Forecast | Previous | Revised Form | |
| 1.8% | 2.0% | -4.2% | N/A | ||
| For December. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| -4.2% | -2.5% | -0.3% | N/A | ||
| The Westpac Melbourne Institute (WMI) Consumer Sentiment for November. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.3% | 4.2% | N/A | |||
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For October. The Westpac Melbourne Institute Consumer Confidence indicator moved into negative territory in October. The survey was conducted after the country's central bank held interest rates steady. The fall in confidence was led by expectations to family finances (-4.1%), and by weaker consumer sentiment brought about by higher mortgage and rent costs. |
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|
Actual | Forecast | Previous | Revised Form | |
| -8.1% | -0.6% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| -0.6% | -2.0% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| -2.0% | 7.5% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 1.70% | 7.30% | N/A |