The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 7% in September from 86.2 in August to 92.2 in September in further welcome news for retailers. The bounce was expected in the wake of recent events, according to Westpac’s Chief Economist, Bill Evans. “This type of result comes as no surprise,” he reported. “It is a direct response to the decision by the Reserve Bank to cut their overnight cash rate by 0.25% and the swift response by the banks to reduce their... ...Read more »

The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 9.1% in August from 79.0 in July to 86.2 in August - the biggest jump in the last five years. The data showed a recovery from a sixteen year low and the improvement has been put down to a softening of fuel prices. The bounce in consumer confidence will hearten Australia’s retailers, CEO of the Australian National Retailers Association Margy Osmond said in response to the findings. “It’s clear that... ...Read more »