Westpac-Melbourne Institute October Consumer Sentiment

The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 4.2% in October from 93.9 in September to 97.8 in October. This result is a little short of the increase we would have expected given the strong boost the government received in the polls following recent leadership and ministerial changes. Four of the five components of the Index increased in October. Both components measuring views on family finances increased: the sub-index on ‘family finances vs a year ago’ increased by 1.3% and the sub-index on ‘family finances over the next 12 months’ rose by 3.5%. Expectations around the economy were more mixed: the subindex on ‘economic conditions over the next 12 months’ rose by 20% whereas the sub-index on ‘economic conditions over the five years’ fell by 7.9%. Responses to ‘time to buy a major household item’ were constructive, but the detail on housing was weak. See attached bulletin for all the detail from Chief Economist Bill Evans: (VIEW LINK)

Elliot Clarke
Senior Economist

An Economist based in Sydney Australia with a particular interest in macro-financial analysis of the Australian and global economy. Having spent a number of years with the Reserve Bank of Australia and Westpac Economics, monetary policy, the...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.