Fewer consumer pessimists in Western Sydney

13 February 2019

Released this week, the IRIS Research Western Sydney Consumer Sentiment Index increased 13 pts to 100 pts over the past 12 months. This movement outperformed the national benchmark with Westpac’s Australian Consumer Sentiment Index up 1 pt to 104 pts over the same period.

This increase was driven by improved sentiment towards major financial decision-making such as buying a home (up 31 pts) and starting a business (up 23 pts). Furthermore, Western Sydney residents are more confident in the state of the national economy (up 11 pts) and local job availability (up 21 pts).

Western Sydney residents are also more optimistic regarding their future household finances, with the Future Financial Position Index up 9 pts to 110 pts over the year.

With the exception of clothing and footwear, current and expected spending increased for all categories of goods and services. The highest increases in current spending were for technology services and vehicles.

Read the full report in our Members-only Publications page