Reported 13 days ago
Australian consumer sentiment saw a significant increase in November, marking the second consecutive month of growth and reaching a 2.5-year high, according to a recent survey. The Westpac-Melbourne Institute index reported a 5.3% rise from October, with future financial outlooks surpassing the 100 mark for the first time since the pandemic. While pessimists still outnumber optimists, the gap is closing as consumers feel less pressure on finances and gain confidence in the economic outlook, aided by stable interest rates from the Reserve Bank of Australia. Encouragingly, consumer expectations for mortgage rates to decline also hit their highest levels since 2016, signalling a positive trend ahead of the holiday shopping season.
Source: YAHOO