Consumer sentiment flat in March

by | Mar 15, 2023 | Australia, News

The Westpac-Melbourne Institute Index of Consumer Sentiment for Australia was unchanged at 78.5 in March, remaining at near historic lows. High inflation, rising interest rates and economic uncertainty continue to weigh on sentiment, resulting in the second consecutive sub-80 reading, which has only happened twice previously.

Index components indicate deteriorating expectations for family finances and the economy in the year ahead, while expectations for the economy over the next five years lifted significantly. The net effect left overall sentiment unchanged from February.