Australia: Consumer sentiment rises in December
The Westpac-Melbourne Institute consumer sentiment index increased to 80.3 in December from 78.0 in November. Therefore, sentiment moved closer to the 100-mark, indicating that there were more pessimists than optimists among Australian consumers.
Decembers rise came on the back of improved households expectations over the economy in the next 12 months and five years. Moreover, expectations over family finances in the next 12 months strengthened. However, willingness to buy major household items weakened.