Australia Consumer Confidence Remains Positive

Consumer confidence in Australia held in positive territory in November, the latest survey from Westpac Bank revealed on Wednesday as its index for sentiment slipped 1.0 percent to a score of 104.3 – remaining above 100 and in the green.

There was a clear difference in responses between the states hit hardest by recent Delta outbreaks and the rest of Australia. Both NSW and Victoria posted significant falls (down 3.6 percent and 3.5 percent respectively) while sentiment was up in Queensland (3.4 percent), WA (3.2 percent) and SA (7.1 percent).

While high vaccination rates have allowed the ‘Delta states’ to reopen, there appears to be a heightened sensitivity to virus developments in those states where there is likely more concern about the newly emerging Omicron strain and the continued circulation of COVID locally.