Australian Consumer Sentiment At 11-Year High

Australian Consumer Sentiment At 11-Year High
SHARE
THIS



The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 6.2 per cent to 118.8 in April from 111.8 in March, representing its highest level since Australia’s post-GFC rebound.

Westpac chief economist Bill Evans described the results as “extraordinary” given their context.

“The survey continues to signal that the consumer will be the key driver of above-trend growth in 2021,” Evans writes in the latest Consumer Sentiment report.

“Consider some of the issues that might have weighed on the Index this month.

“The survey was conducted in the week following the unwinding of the JobKeeper program. Initial fears that this and associated job losses would undermine confidence have proven to be unfounded.

“Secondly, there has been disappointing progress on the vaccine roll-out locally,” he said.

“Compounding this was new advice against giving those aged under 50 the AstraZeneca vaccine due to risks of rare but serious side-effects.”

The results represent an 11-year high, with Australians shrugging off the end of JobKeeper while proving untroubled by widely publicised vaccine delays.

The national survey of 1200 households was conducted between 5 April and 10 April.

Despite the bad headlines that accompanied the period of the survey, consumer confidence has proven “resilient” to the bad news, Evans said.

To read the latest Westpac-Melbourne Institute Index of Consumer Sentiment, click here.

Please login with linkedin to comment

Westpac-Melbourne Institute Index of Consumer Sentiment

Latest News

Vision6 Launches First-Ever National Brand Campaign “Simply Reliable”
  • Advertising
  • Campaigns

Vision6 Launches First-Ever National Brand Campaign “Simply Reliable”

Australian owned and operated email and SMS marketing software company, Vision6, announced the launch of its first-ever national brand campaign and new brand platform “Simply Reliable”. Founded in 2001, Vision6 was one of the first email marketing software providers in Australia and has since been relied upon by thousands of Aussie businesses and organisations for […]

JCDecaux New Zealand Grows Its Team To Lead Street Furniture Tender
  • Media

JCDecaux New Zealand Grows Its Team To Lead Street Furniture Tender

Out-of-Home media company JCDecaux New Zealand has appointed business growth specialist Adam McGregor in preparation for its bid to win upcoming local government street furniture tenders across the country. With contracts for the provision of street furniture including bus shelters across New Zealand up for renewal from late 2022, they collectively represent the biggest advertising […]

ABC iview Goes Virtual With Fetch TV
  • Media

ABC iview Goes Virtual With Fetch TV

Fetch TV has announced that ABC iview will soon be available as a dedicated Virtual Playlist Channel on the Fetch platform. Virtual Playlist Channels (VPCs) were developed by Fetch to promote content discovery, and to provide a clear bridge between the traditional world of linear TV and the growing availability of on demand content via […]

Jackie Gillies Joins The Acast Creator Network
  • Media

Jackie Gillies Joins The Acast Creator Network

Jackie Gillies, businesswoman, psychic medium and cast member of The Real Housewives of Melbourne is bringing her sassy, inspirational and adventurous spirit to her new podcast Shine It Up, With Jackie Gillies, which launches today via Acast. Hosted and distributed by the creator-first podcast company Acast, the show will offer listeners inspiration and motivation to […]

Hungry Vax, Jabstar, JAB Hi-Fi: Aussie Designers Give Iconic Logos A Pro-Vax Revamp
  • Media
  • Technology

Hungry Vax, Jabstar, JAB Hi-Fi: Aussie Designers Give Iconic Logos A Pro-Vax Revamp

Crowdsourcing platforms DesignCrowd and BrandCrowd are promoting vaccination efforts in a unique way, launching a logo redesign contest among their networks of designers. The initiative saw iconic Australian brands such as Hungry Jack’s, Jetstar, JB Hi-Fi, and Bunnings undergo a redesign.  “We thought it would be fun to see some other iconic Australian brands back […]

Harper’s Bazaar Australia Appoints Jillian Davison As Editor In Chief
  • Media

Harper’s Bazaar Australia Appoints Jillian Davison As Editor In Chief

Jillian Davison has been named editor-in-chief of the recently relaunched Harper’s BAZAAR Australia. She will oversee all content, development and creative direction across the iconic magazine’s digital and brand platforms. Davison (pictured) succeeds Eugenie Kelly, who recently stepped down to pursue other opportunities. The announcement was made by Maureen Jordan, publisher of Harper’s BAZAAR Australia […]

72andSunny Unveils First Campaign For Plant-Based Drink Brand Australia’s Own
  • Advertising
  • Campaigns

72andSunny Unveils First Campaign For Plant-Based Drink Brand Australia’s Own

Freedom Foods and 72andSunny Sydney have launched the first advertising campaign for Australia’s Own range of plant-based beverages. The campaign introduces a new visual world and identity for the brand and captures the healthy, positive feeling you get when spending time in nature and when consuming Australia’s Own certified-organic, plant-based beverages. As well as featuring […]