Australian Consumer Confidence Wanes Despite Signs of Stability

Westpac’s consumer index shows mixed results in January as spending pressures clash with cautious optimism.

People shop in the confectionery section of a supermarket in Western Australia on May 4, 2024. Susan Mortimer/The Epoch Times

Consumer sentiment in Australia declined for the second consecutive month in January, with the Westpac Consumer Sentiment Index falling by 0.7 percent to 92.1 points. An index value below 100 indicates pessimism.

While sentiment remains on the pessimistic side, it is notably less negative than the same time last year.