• Consumer sentiment rose by 3.5% in August to be 9.4% higher than a year ago.
• Sentiment was buoyed by the RBA’s latest rate cut, which occurred at the time the consumer survey was taken.
• But a host of other positives were evident over the month – local shares and house prices moved higher, the unemployment rate was flat, the Government announced an early election date of 7 September and the AUD stabilised.
• Labor voters (by intention) drove the lift in sentiment which more than offset the small fall in Coalition voters (by voting intention).
Read the full report: Market Research
Commonwealth Bank