Australia: Consumer sentiment deteriorates in November
November 11, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment decreased 1.1% in November as the index fell from October’s 102.4 to 101.3. The drop brought the index closer to the 100 mark, indicating that the number of optimists still outnumbers pessimists.
The Institute noted that consumer sentiment had continued to show strength despite significant adverse events over the past six months. The slight degradation stems from a weak job market and a volatile stock market, due to uncertainties related to the U.S. election.
Author: Christopher Mc Innes, Economist