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AUD - Consumers shrug off rate rises
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Australian consumers have entered the new year with rising confidence, shrugging off a trio of interest rate rises, according to the latest survey of sentiment.
The Westpac-Melbourne Institute consumer sentiment index rose by 5.6 per cent in January to 120.1 index points from 113.8 in December, halting two months of declines amid increases in interest rates.
The confidence index is 33.6 per cent higher than a year ago, Westpac said.
"This is a very strong result," said Westpac chief economist Bill Evans. "The index is seasonally adjusted and therefore takes account of traditional January optimism."
"Nevertheless it is still above its level of last... Full Story |
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Submitted Jan 19, 2010 6:53pm
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