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.
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The Westpac-Melbourne Institute Consumer Sentiment Index gained 0.2 per cent to 93.2, after falling 6.8 per cent in May.
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Consumer sentiment is still down 8.8 per cent over the past 12 months.
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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
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