Westpac-Melbourne Institute Consumer Sentiment Index
- rose 1.8% to 105.1 in Jan from 103.3 in Dec. Sentiment has continued to recover from the weakness in Q3 last year, bolstered by a less threatening outlook for interest rates and improving confidence around the economy and jobs. While the mood is 'cautiously optimistic' rather than buoyant, the Jan update was the best monthly index read since late 2013 and the most positive start to a calendar year since 2010.
- The Feb survey is in the field over the week ended Feb 10. Sentiment is likely to be affected by increased financial market turbulence in recent weeks with a sharp sell-off in global equities. The S&P500 is down 5% and the ASX200 is down nearly 3% since the Jan survey, the biggest monthly falls since late 2016.