- Analytics
- News and Tools
- Market News
- Australia's сonsumer sentiment strengthens in October
Australia's сonsumer sentiment strengthens in October
RTTNews reports that survey data from Westpac showed that Australia's consumer confidence improved sharply in October following the announcement of the federal budget and the ongoing success in containing the Covid-19 outbreak.
The Consumer Sentiment advanced 11.9 percent to 105.0 in October from 93.8 in September. The indicator gained 32 percent over the last two months to the highest level since July 2018.
All components of the index were higher in October. The most striking improvements were around the outlook for the economy.
The 'economy, next 12 months' sub-index increased 24.2 percent, while the 'economy, next 5 years' sub-index was up by 14.1 percent.
Bill Evans, chief economist at Westpac said one of the likely factors behind the surge in sentiment this month is an expectation that the central bank is set to cut the overnight cash rate to 0.10 percent from 0.25 percent at the meeting scheduled on November 3.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
