* Consumer sentiment fell by 2.1% in October to be 9.2% higher than a year ago.
* Confidence is at an elevated level, but concerns remain around household finances.
* Low interest rates, a strong AUD and some lingering positivity from September’s election outcome are keeping confidence buoyant.
* Rising property prices are a double-edged sword to consumers – sentiment will be impacted positively or negatively depending upon which side of the fence the espondent is sitting (i.e. home owner or prospective buyer).
* The Westpac-Melbourne Institute unemployment expectations index rose by 0.6% and is at a high level overall which indicates a continuation of labour market softness
Read the full report: Economic Research
Commonwealth Bank