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 ...)