SYDNEY ― Australian consumer sentiment rose sharply in November for a second straight month, reaching a 2-1/2-year high with the mood on the economy and finances finally turning optimistic, a survey showed on Tuesday.
The Westpac-Melbourne Institute index of consumer sentiment rose 5.3 percent in November from October, when it jumped 6.2 percent. The index reading of 94.6 showed pessimists still outnumbered optimists, but by a narrowing margin.Indeed, readings for future finances and the economic outlook broke above the 100 mark for the first time since the pandemic.
Hassan did caution that survey responses took a turn for the worse after Republican Donald Trump's won the US presidential election. It was unclear whether this would last.Otherwise, the survey was broadly firmer as the share of consumers expecting mortgage rates to drop in the future climbed to the highest since 2016.That was reflected in the survey's measure of family finances compared to a year ago which surged 6.8 percent, while finances for the next 12 months rose 4.4 percent.
Consumer Sentiment Jumps For 2Nd Month
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