Australia: Consumer sentiment rises in January
The Westpac-Melbourne Institute consumer sentiment index increased to 84.3 in January from 80.3 in December. However, sentiment remained entrenched below the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.
Januarys rise came on the back of improved households expectations over the economy in the next 12 months and five years. Moreover, expectations over family finances in the next 12 months strengthened. Additionally, willingness to buy major household items strengthened.