Australia: Consumer sentiment improves further in October
October 10, 2012
In October, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 99.2 points. The figure was up from the 98.2 points recorded in September and represents the fifth increase seen in the last six months. As a result, the index reached its highest level in eight months, closer to the 100-point threshold that separates optimistic from pessimistic territory, but still remaining in negative territory for the eight month in a row. According to the survey, the reading was driven by improvements in the sub-components related to households' current assessment and short-term expectations (12 months) on their financial situation. Accordingly, the sub-index related to the intentions to purchase major household items improved compared to September.
Author: Armando Ciccarelli, Head of Data Solutions