Australia: Consumer sentiment improves in February
February 15, 2017
The Westpac-Melbourne Institute Survey of Consumer Sentiment rose 2.3% in February as the index inched up from January’s 97.4 to 99.6. The index did not surpass the 100 mark, indicating that the number of pessimists still outnumbers optimists.
The Institute noted that February’s improvement came on the back of consumers’ more positive opinions about the economy. This has increased households’ appetite for larger purchases. Nevertheless, the soft labor market remained a point of concern for consumers, while rising interest rates also served to keep the index below the 100 mark.
Author: Christopher Mc Innes, Economist