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Westpac with the note.
- Westpac Consumer Sentiment Index up 1.7% to 83.6.
- Assessments of finances and buyer sentiment less negative.
- But inflation, interest rate, and growth fears weighing more heavily.
- Half of consumers expect mortgage rates to rise over the next 12mths.
- Unsettled outlook eroding confidence around jobs.
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Despite the improvement, consumer sentiment remains below its March level and still firmly in deeply pessimistic territory. At 83.6, the Index remains well below the ‘neutral’ level of 100, meaning pessimists outnumber optimists by nearly 20ppts.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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