The Westpac Melbourne Institute Index of Consumer Sentiment fell by 0.8% in December from 101.7 in November to 100.8 in December. In the December survey we ask respondents about the news items that most attracted their attention and whether these were viewed as favourable or unfavourable. This can give us a guide as to what factors may be driving movements in the Index. The most recalled news was around ‘economic conditions’ (48% of respondents); ‘Budget and taxation’ (42.8%); ‘interest rates’ (24.3%); and ‘international conditions’ (20%). Of these, the most important change was around ‘Budget and taxation’ with the proportion of respondents recalling news on this topic almost doubling since September and the news assessed as considerably less favourable.For all the detail on confidence in the outlook; family finances; and property, see the bulletin: (VIEW LINK)
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