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Victoria s 4th lockdown rattles consumer confidence: Westpac

Westpac consumer sentiment booms on - MacroBusiness

MacroBusiness Access Subscriber Only Content Via Bill Evans: The Index is now just 0.2 points below the December level which was a ten-year high. The main factors driving the Index are improving economic conditions and prospects, both domestically and abroad, particularly as they relate to our labour market. Australia’s success in containing COVID-19, the promise of vaccine rollouts bringing an end to the pandemic, and support from stimulatory government policies have all contributed to the sustained lift. However, the survey shows evidence of tensions emerging in the housing market. Every quarter, the survey includes additional questions around news recall that give a clearer indication of the topics influencing sentiment. Responses this quarter indicate that positive news around the economy, jobs and budget/tax policy have been most influential.

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