Australia: Consumer confidence rises to highest level in four months
February 15, 2012
In February, the index of consumer sentiment published by Westpac and the Melbourne Institute rose to 101.1 points, marking an improvement compared to the 97.1 points recorded in January. Due to the sizable increase, the index edged closer to its long-term average of 101.8 points and is now at its highest level in four months. All the sub-components of the index picked up compared to the previous month. The sharpest improvement was experienced by the component related to expectations about the economic situation in the next 12 months. Furthermore, households were more upbeat about their future personal financial situation, leading to a 1.8% increase in their intentions to purchase a major household item.
Author: Armando Ciccarelli, Head of Data Solutions