Westpac's monthly gauge of consumer sentiment

Prior to the release WPAC had highlighted the factors likely to impact:

  • reactions to the Federal budget
  • financial market moves (local stock market up 5.5% since the April)
  • AUD sliding
  • Petrol prices shwoin a notable lift,
  • Continued slippage in Sydney and Melbourne house prices

In May the measure has come in at 101.8, above 100 despite the falls ... optimists outnumbering pessimists still. but, says WPAC:

  • After a promising start to the year, sentiment has drifted lower over the last three months
  • index remains well below the 105-115 levels typically associated with a robust consumer

AUD doing very little (as is everything else in forex land ...)