Westpac consumer confidence on the rise in October

FXStreet (Bali) - Westpac/Melbourne Institute Consumer Confidence Index (seasonally adjusted) for the month of October came at +0.9% MoM to 94.8 against a -4.6% prior at 94.0.

Bill Evans, Chief Economist at Westpac, notes: "Households, who reacted negatively to the Commonwealth Government’s May Budget, may have been encouraged by recent announcements that a number of budget initiatives have been set aside for the time being.”