Australia: Consumer confidence improves in November
November 13, 2014
The Westpac-Melbourne Institute Survey of Consumer Sentiment rose from the 94.8 points tallied in October to 96.6 points in November. However, the indicator still rests below the 100-point threshold that separates pessimistic from optimistic territory.
According to the Institute, November’s print is disappointing, the index remains substantially below its level in November 2013. In addition, November’s figure marked the ninth consecutive month in pessimistic territory. The Institute commented that, “in the near term, prospects for a boost in consumer spending going into the end of the year are not encouraging.”