Overview

• Westpac–Melbourne Institute index fell 3.1% to 95.4 in September, keeping confidence below the 100 optimism threshold.
• The survey’s family finances compared with a year earlier rose 2.6%, extending August’s rebound.
• Short- and long‑term economic outlooks weakened, with the one‑year view down 8.9% and the five‑year measure down 5.9%.
• Willingness to buy major household items eased 3.4% to 98.2, remaining well below its long‑run average.
• NAB’s August survey showed business conditions up to +7 and cost growth at the slowest pace since 2021, as purchase costs rose 1.1% q/q, retail prices 0.5%, and labour costs 1.5%, while Q2 data showed the fastest economic growth in two years driven by a revival in consumer spending.