Australian consumer sentiment increased 2.8% in August, driven by the Reserve Bank's interest rate hold and tax cuts.
Australian consumer sentiment increased 2.8% in August, as the Reserve Bank of Australia maintained interest rates and tax cuts took effect, according to a Westpac-Melbourne Institute survey. The index, which measures attitudes towards family finances, major household items, economic conditions, and the time to buy a dwelling, rose to 85. Family finances had the largest surge, increasing 11.7%, the most significant monthly gain in nine years.
August 13, 2024
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