Western Sydney Consumers Remain optimistic

24 May 2019

The latest IRIS Research quarterly Western Sydney Consumer Sentiment Monitor reveals Western Sydney consumers are positive about the fundamental strength of the local and national economy despite their current financial position being the lowest since we started collecting this data in December 2017.

Although there was a 5 point decline in the March 2019 Western Sydney Consumer Sentiment Index, the rolling annual trend saw a strong 12 pts rise to 95 pts over the past 12 months – outperforming  Westpac’s Australian Consumer Sentiment Index national benchmark, which was down 4 pts to 99 pts over the same period. The March 2019 quarter decline matched the national result.

Indicators including perceptions of national economic conditions (up 12 pts), job availability (up 15 pts) and sentiment towards buying a home (up 32 pts) and setting up a business (up 21 pts) have improved over the past 12 months and stand in contrast to the corresponding Illawarra Consumer Sentiment results.

Despite improved sentiment, the current financial position of Western Sydney residents is the lowest since we started recording this in December 2017, down 3 pts to 93 pts; both the Current and Future Financial Position indices have experienced sharp quarterly declines.

Read the full report on our Members’ only Publication Page