Australia: Consumer sentiment improves in October
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4. The increase nudged the index further above the 100 mark, indicating that the number of optimists outnumbers pessimists.
The Institute noted that consumer sentiment had continued to show strength despite significant adverse events over the past six months. The improvement stems from better expectations about the future, thanks in large part to the robust labor market.
Author: Christopher Mc Innes, Economist