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Consumer Sentiment responds to vaccine progress
The Westpac-Melbourne Institute Index of Consumer Sentiment increased by 2.0% to 106.2 in September from 104.1 in August. The resilience of consumer sentiment in a period when Australia’s two major cities have been locked down and the economy has been contracting is truly remarkable. The Index is still comfortably above the reads seen over the five years prior to the pandemic and is only 0.9% below its June print just prior to Sydney’s move into lock-down. Indeed, the latest month has seen confidence in NSW lift 5.3% to 106.4 while confidence in Victoria held steady at 104.1 despite the state moving back into ... (full story)