Despite the slight dip, optimists still outnumber pessimists. Photo: Anthony Johnson
A measure of Australian consumer sentiment dipped in June after the central bank held off on delivering a second cut in interest rates, with households tempering optimism on the outlook for the economy.
The survey of 1,200 people by the Melbourne Institute and Westpac Bank showed its index of consumer sentiment eased 1.0 per cent in June, from May when the index jumped 8.5 per cent .
The slight dip still left the index 7.2 per cent higher on June last year at 102.2, with optimists outnumbering pessimists.
Expectations for the economic outlook over the next 12 months slipped 3.8 per cent , while the outlook for the next five years dipped 5.2 per cent .
The index of family finances compared to a year ago climbed 4.3 per cent in the month, while the outlook for the 12 months ahead edged up 0.2 per cent .
The survey was conducted in the week when the Reserve Bank of Australia left interest rates unchanged at a record low 1.75 per cent .
Reuters
