Economic Buzz: Australia Consumer Sentiment Index Slips 2% On Month In January

19 Jan 2022 , 09:39 AM

The Consumer Sentiment Index in Australia declined 2% on month to 102.2 in January, data on Wednesday showed. Consumers in states impacted by delta lockdowns appear to have been less unsettled by the rapid spread of the omicron than those in states experiencing their first major wave of Covid infections. Westpacs survey showed consumers reported a significant improvement in their finances from a year ago, with the sub-index lifting 7.5% to a nine-month high of 95.6. That likely reflects a solid rebound in employment, wealth gains from a resurgent housing market and the accumulation of significant reserves due to high savings rates during lockdowns, according to the report.

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