Australia Consumer Confidence Rises In January



An index measuring consumer confidence in Australia surged in January, the latest survey from Westpac Bank and the Melbourne Institute showed on Wednesday. The index spiked 8.0 percent to a score of 100.7, touching a 13-month high. That follows the 2.4 percent gain in December to 93.2. "This is a much stronger result than we had expected. It represents the first time since February last year that we have seen a majority (albeit miniscule) of optimists over pessimists. It is also the highest level of the Index since January last year," Westpac Chief Economist Bill Evans said.

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