August 10, 2016

Australians Continue To Think Positive

   August 10, 2016

Australians Continue To Think Positive

Westpac-Melbourne_Consumer_Confidence_Index__[Close]_TMMChart.png

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Editor’s Remarks:
The past few years have been particularly turbulent for Australians including one year seeing 3 different prime ministers take office. 2016 was about to start in similar fashion with one of the tightest elections ever seen and Brexit taking centre stage. Even economically, the situation looks grim for Australia. The combination of a continuing slowdown in Chinese growth with the mining and oil industries experiencing a terrible past year would be enough to dampen consumer confidence. However, with the initial doom and gloom shock of Brexit wearing off and not experiencing another political change, Australian confidence is continuing the slow creep upwards it started last year. The index published today should see it go over 100 again, which indicates more optimism than not. However, holding it there is probably a hop too far.

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