Australian consumers moods are wavering with the latest Westpac-Melbourne Institute consumer sentiment index down 3.1% to 95.4 in September.

The decline follows lifts in mood in consecutive months since April as consumers continue to be concerned about the economic outlook. With subindices such as family finances vs a year ago and family finances in the next 12 months rose, indicating less stress, the readings are still in negative territory. Other indices, such as the economic outlook in the net 12 months and the next five years, both fell moving expectations from neutral to pessimistic. 

While lower than the August reading, sentiment sits firmly ahead of the mood last spring.