Condition
Consumer confidence
Do Australians feel confident about their finances and the economy?
Consumer confidence: −6.6% since May 2022.
- Latest
- 80.4
- Since the government took office
- Worse−6.6%
- Over the past year
- Worse−11.5%
Westpac-Melbourne Institute consumer sentiment
- Survey index
What this is
The Westpac-Melbourne Institute survey asks around 1,200 Australian adults each month how they feel about their family finances and the economy. 100 means optimists and pessimists are evenly balanced. Below 100 means pessimists outnumber optimists.
Why it matters
Confidence shapes spending, hiring and investment. A long run below 100 is a clear sign that households feel worse off.
More from the figures
- Pessimists have outnumbered optimists in 52 of the 53 months since the government took office.
- In May 2022 the index was 90.4. The 2010-2019 average was 101.2.
How it’s calculated
Westpac-Melbourne Institute Index of Consumer Sentiment, seasonally adjusted, as republished in RBA Table H3. An index above 100 means more consumers are optimistic than pessimistic.