Westpac - Melbourne Institute Consumer Confidence for January 2024 has had its biggest monthly rise in 10 months to 86.0 (a 20-month high) from 81.0 in December.
The 100 point separates net optimism from net pessimism so while its improved the net reading is still dour.
WPAC comments:
- "While sentiment is still firmly pessimistic there finally looks to be some light at the end of the tunnel for Australian consumers"
- "Moderating inflation and shifting expectations for interest rates appear to be the main factors behind the lift."
