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Slumping petrol prices boosts Westpac Consumer consumer confidence
Australia's consumer confidence has risen from December's "disturbing" lows, with plummeting petrol prices a contributing factor, according to Westpac. The Westpac Melbourne Institute Index of Consumer Sentiment rose to 93.2 in January, up from 91.1 in December. December's result, which Westpac chief economist Bill Evans called "disturbing", was the lowest since August 2011. Mr Evans said that falling petrol prices, a fall in unemployment in December, and a hiatus in media coverage of the 2014 Budget were the main factors driving confidence. "It is encouraging to at least see an increase in the Index," he said. ... (full story)
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