Australia: Westpac monthly consumer confidence index (May) -0.6% m/m (prior -0.6%)

Author: Eamonn Sheridan | Category: News

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 ...)