Westpac consumer sentiment index falls 5.6%
Just as retailers and consumers alike gear up for what they hope to be a good Christmas, the Westpac Melbourne Institute Index of Consumer Sentiment shows there was a fall in consumer confidence from November to December.
The housing market has helped boost consumer confidence in November with the Westpac Melbourne Institute Index of Consumer Sentiment increasing by 1.9 per cent from 108.3 in October to 110.3.
There is evidence the economy is starting to pick up, according to the Reserve Bank of Australia governor Glenn Stevens who spoke at Citi's 5th Annual Australian and New Zealand Investment Conference in Sydney on Monday.
Following a solid jump in September, which was largely influenced by the expected election result, the Westpac Melbourne Institute Index of Consumer Sentiment for October has fallen by 2.1 per cent.
The Westpac Melbourne Institute Index of Consumer Sentiment has increased by 4.7 per cent from 105.7 in August to 110.6 in September.
The Reserve Banks' latest decision to reduce the cash rate by another 0.25 per cent earlier this month has helped lift consumer sentiment for August.
A recent survey shows while Australian consumers may not be spending as much compared to other countries, retailers would be foolish to not find ways to reap on the gaps of where they are spending.
The Westpac Melbourne Institute Index of Consumer Sentiment remained almost unchanged, edging 0.1 per cent lower from 102.2 in June to 102.1 in July.
Retailers are demanding economic and political stability to bring consumer confidence back so they begin spending once again.
Consumer sentiment has shown signs of improvement rising 4.7 per cent in June to 102.2 from 97.6 in May.
In the wake of Budget, the Westpac Melbourne Institute Index of Consumer Sentiment fell 7 per cent from 104.9 in April to 97.6 in May – the lowest since August 2012.
The Westpac Melbourne Institute Index of Consumer Sentiment fell by 5.1 per cent in April from 110.5 in March to 104.9 in April.
ANRA CEO Margy Osmond has commented that sentiment is important but it is sales that determine the retail success.
Things are beginning to look up with the Westpac Melbourne Institute Index of Consumer Sentiment rising by 2 per cent.
Positivity is all around us with consumer sentiment rising by a buoyant 7.7 per cent in February.
Consumer sentiment in January has increased slightly, reflecting a possible positive outlook for the year.
Consumer confidence has taken a surprising tumble in December.
As we head towards Christmas, more positive news arrives, with consumer sentiment lifting strongly in November.
Consumer sentiment only increased a slight 1 per cent in October from 98.2 in September to 99.2 in October, according to the Westpac Melbourne Institute Index of Consumer Sentiment.
There are possible hopes that consumer confidence may jump back up by the end of the year after the Westpac Melbourne Institute Index of Consumer Sentiment rose by 1.6 per cent in September from 96.6 in August to 98.2 in September.
The Index of Consumer Sentiment has failed to get any traction falling by 2.5 per cent in August from 99.1 in July to 96.6 in August, according to the Westpac-Melbourne Institute.
Rising costs continue to plague consumers’ purchasing intentions and sentiment, according to the latest figures from Nielsen.
Consumers have regained some confidence in July with the Westpac Melbourne Institute Index of Consumer Sentiment seeing a 3.7 per cent lift from 95.6 in June to 99.1.
Consumer sentiment increased by 0.8 per cent in May from 94.5 in April to 95.3, according to the Westpac Melbourne Institute Index of Consumer Sentiment.
The two-speed economy continues to fuel the low consumer sentiment which has dropped to the lowest levels since the global financial crisis hit, according to the latest Nielsen survey.
Financial concerns are on the mind of consumers so much so the Westpac Melbourne Institute Index of Consumer Sentiment fell by 1.6 per cent from 96.1 in March to 94.5 in April.
Westpac chief economist Bill Evans says the Index has now fallen below the level in October last year prior to the Reserve Bank's two rate cuts in November and December.
Consumer sentiment has increased slightly in February by 4.2 per cent from 96.1 in January to 101.1, according to the Westpac–Melbourne institute index of consumer sentiment
Despite poor Christmas sale results, consumer sentiment has made a modest recovery as it increase by 2.4 per cent from 94.7 in December to 97.1 in January.
Despite the second rate cut from the Reserve Bank, consumer sentiment has fallen by 8.3 per cent in December from 103.4 in November to 94.7.
The RBA's decision to cut rates by 0.25 per cent has helped boost consumer sentiment by 6.3 per cent in November.
Consumer sentiment is ever slowly creeping upwards with the Westpac-Melbourne Institute Index of Consumer Sentiment reporting a 0.4 per cent increase in October
The latest results of he Westpac Melbourne Institute Index of Consumer Sentiment show that consumer sentiment rose by 8.1 per cent from 89.6 in August to 96.9 in September.
Consumer sentiment has rose 1.2 per cent from 104.1 in March to 105.3 in April, according to the Westpac-Melbourne Institute index of consumer sentiment figures.
The American Express future of consumer spending survey that found while Australia avoided the worst of the global financial crisis, 51 per cent of all consumers are now more cautious when making a purchase.
The Westpac-Melbourne Institute index of consumer sentiment fell by 2.4 per cent in March from 106.6 in February to 104.1.
More evidence has been released by the ARA showing it will be another tough year of retail trading with over 50 per cent of Australians planning to spend less.
Retailers should be celebrating after a key measure of Australia's consumer confidence rebounded modestly by 1.9 per cent in February from 104.6 in January to 106.6 in February.