Source: LSEG Datastream, Westpac/MI, ABC News, Stephen Letts
Consumers are getting more pessimistic, and rate cuts aren't helping
Westpac/Melbourne Institute Consumer Confidence Index
2006
2008
2010
2012
2014
2016
2018
70
80
90
100
110
120
130
70
80
90
100
110
120
130
CONSUMER SENTIMENT (100 = neutral. The higher the number the higher the optimism)
Optimism
Pessimism