Australian business and consumer confidence hit highs not seen in years, but optimism remains cautious.

Australian business and consumer confidence have shown improvements, with business confidence hitting a two-year high in October and consumer confidence reaching its highest levels since early 2023. The National Australia Bank reported positive sales and profitability, while the ANZ-Roy Morgan survey indicated increased optimism among homeowners and mortgage holders. However, concerns about potential US policy changes affecting trade with China and plans to spend less on Christmas gifts suggest cautious optimism.

November 12, 2024
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