Consumer sentiment inches higher as budget continues to weigh
Consumer sentiment has risen marginally in June, picking up off the three-year low reached in May in the wake of the federal budget.
The Westpac-Melbourne Institute Consumer Sentiment Index gained 0.2 per cent to 93.2, after falling 6.8 per cent in May.
Consumer sentiment is still down 8.8 per cent over the past 12 months.
The doom and gloom surround the Coalition government’s first federal budget is still weighing heavily on consumers’ minds, with sentiment surrounding family finances versus a year ago down 5.4 per cent from last month. However, households remain optimistic about the next 12 months with a 5 per cent improvement in sentiment surrounding finances in the next year. Sydney Morning Herald – Read more