Australia - Westpac Consumer Confidence Index for October: -1.5% m/m (prior +2.0%)

Taking the index to 104.6. a net optimistic reading.  The weekly reading of Australian consumer confidence has been inching higher for 5 weeks in a row.  Some of the points from the WPAC report, in brief: Despite both Sydney and Melbourne remaining in lock down throughout the last month consumers are relatively upbeat.  The success and pace of vaccine-led re openings in NSW and Victoria in conjunction with the efforts of Queensland and Western Australia to lift vaccination rates while remaining COVID-free will likely determine the profile of national confidence over the next few months.

Australia - Westpac Consumer Confidence Index for October: -1.5% m/m (prior +2.0%)

Taking the index to 104.6. a net optimistic reading. 

The weekly reading of Australian consumer confidence has been inching higher for 5 weeks in a row. 

Some of the points from the WPAC report, in brief:

  • Despite both Sydney and Melbourne remaining in lock down throughout the last month consumers are relatively upbeat. 
  • The success and pace of vaccine-led re openings in NSW and Victoria in conjunction with the efforts of Queensland and Western Australia to lift vaccination rates while remaining COVID-free will likely determine the profile of national confidence over the next few months.