Westpac-MI Consumer Sentiment September 2015

The Westpac –Melbourne Institute Consumer Sentiment Index fell by 5.6% in September from 99.5 in August to 93.9 in September. September is the 17th month of the last 19 where the index has been below the 100 optimist/pessimist divide. Within the detail: consumers remained nervous over the labour market; were more concerned over their family finances; and less willing to spend on a major household item. Consumers' confidence in the housing market also continued to erode: 'time to buy a dwelling' is down 30% on two years ago; and house price expectations have also fallen 17% over the past year, though this measure continues to signal positive price growth hence. (VIEW LINK)