This is the monthly measure (the weekly numbers were out earlier, first drop in a couple of months!)
Westpac Consumer Confidence Index for June up 6.3% on the month to 93.7
93.7 is still a net pessimistic read but its much better than the lows reached around 75 in April.
Westpac highlight that consumer confidence is now back around pre-COVID levels,
… errr … that is a good thing? 😀
OK, serious hat back on, more from WPAC:
- Confidence has clearly been buoyed by Australia’s continued success in bringing the Coronavirus under control
- has in turn allowed for a further easing in social restrictions over the last month
- The Index is now only 2% below the average in the preceding September to February period.
The reason I am not impressed is this (again, from WPAC):
- Note that sentiment was already on the weak side prior to the COVID shock with the Index through this earlier period showing a persistent excess of pessimists over optimists.