Consumer sentiment at highest since 2010, says economist
CONSUMER sentiment has hit the highest point since December 2010, following the Federal Election, Westpac chief economist Bill Evans wrote on Wednesday.
Mr Evans released the latest sentiment figures, showing a 4.7% jump in positive outlook for Australia's consumers between the start of August and September.
While the Westpac monitor showed the election may have played a role in improving sentiment, a series of rate cuts, which began nearly 12 months ago, was also "gaining traction".
"The index has now increased by a respectable 13.8% since the Reserve Bank began cutting rates and it is now 9.9% above its average over the period since that first rate cut," Mr Evans wrote.