Tag: Consumer Sentiment

The 2023 Sendle Small Business survey reveals small businesses are divided on sales growth this peak sales season, with customer acquisition the top challenge in 2024

Inflation and interest rates dominate consumer concerns

Australian consumer and business confidence have varied sharply in 2022 as households failed to adapt to the Reserve Bank’s aggressive tightening cycle.

The last fortnight has seen a 5.4 per cent cumulative rise, with the Government’s Budget and the RBA rate cut seen in May being cited as key factors behind the boost.

Consumer sentiment dropped by 3.2 per cent during April, hitting 96.2 per cent from the 99.5 registered in March.

The Index revealed Consumer Sentiment rose to 100.7 points in February, an 8 per cent rise from the 93.2 points registered in January. This is the highest level the Index has seen in the past 12 months.

Consumer sentiment has experienced its longest run of pessimism since the Global Financial Crisis and, before that, the early 1990s recession, according to the Westpac monthly sentiment index.

More good news for SMBs in the lead up to Christmas with a new study showing consumer confidence has significantly increased in recent months.

Consumer spending across the country is continuing to rise, but as businesses become more optimistic, experts are warning consumer confidence remains fragile.

Despite improving conditions in the global economy local consumer confidence has fallen, as households remain concerned about the state of their own finances.