REPEAT:MNI DATA :Australia H'Hold Sentiment Up But Not Robust

Repeats Story Initially Transmitted at 23:36 GMT Mar 13/19:36 EST Mar 13

--Westpac-MI Consumer Sentiemtn +0.2% m/m in March to 103.0

By Sophia Rodrigues

     SYDNEY (MNI) - The Westpac-Melbourne Institute's monthly consumer sentiment

survey rose in March and remained in the optimistic territory for the fourth

straight month. However, indicators correlated to household spending remained

weak and continues to point to subdued outlook for consumption.

     Data published by Westpac-Melbourne Institute Wednesday showed consumer

sentiment rose 0.2% m/m in March to 103.0.

     Despite the rise, the sentiment index remains well below levels typically

associated with a robust consumer.

     The details in the survey and additional questions continue to suggest a

cautious consumer. The sub-index "finances vs year ago" rose 2.4% m/m but

remains low at 86.6. The index of house price expectations fell and was notably

weaker in New South Wales. The "time to buy a dwelling" index rose slightly but

remains well below its long-run average, although a bright spot was improvement

in sentiment in Sydney and Melbourne.

     The "time to buy a major item" sub-index remains consistently below its

long-run average and points to a continued reluctance to commit to large

purchases.

     Other questions in the survey may also be pointing to a cautious consumer.

Households are showing increased concerns about the economy likely due to

developments abroad. The highest recall rate was of news on economic conditions

which was negative versus three months ago. And the most notable shift was on

international conditions which was viewed a significantly more negative than

three months earlier.

     None of the other high recall topics like "budget and taxation", "interest

rates" and "inflation" were viewed a favorable.

     The Westpac-Melbourne Institute Unemployment Expectations Index rose 10%

m/m to 121.8, marking a slightly deterioration but it remains 6.4% higher than

the long-run average.

     Among other sub-indexes, the "economic outlook, next 5 years" fell 4.1% m/m

in March which may be a reflection of news around global trade tensions

following announcement of tariffs on steel and aluminium in the U.S.

     From Westpac-Melbourne Institute Index of Consumer Sentiment for February

published Wednesday:

                                        March  February

-------------------------------------------------------

Sentiment Index                         103.0     102.7

Current-Conditions Index                104.9     104.2

Expectations Index                      101.7     101.8

Family Finances Vs Year Ago              86.6      84.6

Family Finances Next 12 Months          107.9     105.7

Economic Conditions Next 12 Months      100.4      98.8

Economic Conditions Next 5 Years         96.7     100.8

Good Time to Buy Major Household Items  123.2     123.9

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

[TOPICS: MTABLE]