“Promising” jump for consumer confidence index in October

<
08 October 2024

 

Summary: Westpac-Melbourne Institute consumer sentiment index rises in October; Westpac: best since RBA rate tightening phase began; ACGB generally fall; rate-cut expectations firm; Westpac: consumers no longer fearful RBA could take interest rates higher; all five sub-indices rise; fewer respondents expecting higher jobless rate. After a lengthy divergence between measures of consumer sentiment and business confidence in Australia which began in 2014, confidence readings of the two sectors converged again...

read full story