FX.co ★ Consumer Confidence in Australia Inches Up in May According to Thomson Reuters IPSOS PCSI

According to data from Thomson Reuters IPSOS PCSI, consumer confidence in Australia experienced a slight increase in May 2024 compared to the previous month. The index rose from 50.11 in April to 50.28 in May. This uptick indicates a marginal improvement in consumer sentiment in the country.

The Thomson Reuters IPSOS PCSI data, updated on May 10, 2024, reflects a month-over-month comparison, showing the change in consumer confidence for May compared to April. While the increase is not substantial, it suggests a slight positive shift in consumer perceptions and attitudes towards the economy. This incremental rise in consumer confidence could have implications for consumer spending and economic growth in Australia in the coming months.