Consumer confidence ticks up: Westpac-MI

Consumer confidence regained some ground in November, a survey of households suggests, but pessimists continue to outnumber optimists.

The Westpac-Melbourne Institute consumer sentiment index released on Wednesday gained 4.5 per cent to 97.0 in November, remaining below the 100-point neutral mark.

“The pattern of confidence falling in response to a rate cut and recovering when the RBA remains on hold repeats what we saw earlier in the year,” Westpac economist Bill Evans said, referring to the central bank’s decision on November 5.

AAP

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