Consumers remains horrified

David Llewellyn-Smith

Tuesday 14 July 2026

Via Westpac

Westpac–Melbourne Institute Consumer Sentiment Index up 4.1% to 83.9.
Pessimism still dominates but fuel price pressures and rate rise fears moderate.
Consumers remain gloomy on economy and major purchase decisions.
Job-loss concerns subside, unemployment expectations back near average.
Homebuyer sentiment continues to recover from extreme lows but consumers less certain about house price outlook.

Interesting side note from Goldman. Sentiment and spending are very much parted for now.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.