Australian Consumer Confidence Soars on Outlook for Economy
Pedestrians cross a street in the central business district in Sydney, Australia.
Photographer: Lisa Maree Williams/BloombergAustralia’s consumer confidence soared in November as households turned more positive on prospects for the economy, a result that’s likely to further reduce the chances of a near-term interest-rate cut.
Sentiment surged 12.8% to 103.8 points, a Westpac Banking Corp. survey showed Tuesday. It’s the first time optimists have outweighing pessimists since February 2022, with 100 the dividing line, snapping 44 months of ascendancy among pessimists.