Australia Consumer Sentiment Increased in June

The measure of consumer sentiment in Australia showed a marginal increase in June on the back of two consecutive monthly reductions while consumer confidence for their present and future household finances is positive.

On Wednesday, the Westpac Bank and Melbourne Institute polled 1, 200 respondents and viewed that consumer sentiment index grew by 0.3 percent this month versus 0.6 percent decline in May. The index reached 6.1 percent high in June 2017 at 102.2 which indicate that optimists defeated the pessimists in number.

The June survey was made due to rumors heard by consumers that the  Reserve Bank of Australia (RBA) will decide to lower down its cash rates at 1.50 percent along with the sudden economic expansion of 1.0 percent in the first quarter.