Tag: The Westpac-Melbourne Institute Index Of Consumer Sentiment

Consumer confidence fell by five percent in March, as Australians worry about rising interest rates and falling employment levels.

Businesses have welcomed news of a surprise jump in consumer sentiment, as the number of optimists outweighs the number of pessimists for the first time in some months.

Two consecutive interest rate cuts have failed to boost post-Christmas consumer sentiment, a result economists have called “disappointing.” But slowing inflation means businesses may benefit from more rate cuts in the months to come.

Consumer sentiment has jumped 6.3 percent this month, thanks largely to the Reserve Bank’s decision to cut interest rates.