Australia: Consumer sentiment at over 10-year high in December
December 11, 2020
The Westpac-Melbourne Institute consumer sentiment index surged from 107.7 in November to 112.0 in December, marking the highest reading since October 2010. Therefore, sentiment moved further above the 100-mark, indicating that there were more optimists than pessimists among Australian consumers.
December’s reading came on the back of better perceptions of family finances compared to one year ago; much stronger expectations over the economy in the next 12 months and five years; and falling unemployment expectations.