Westpac’s consumer confidence has risen above 100 in
February meaning there are more optimists than pessimists. This is the first
time since February last year that the index has risen above 100.
The survey was conducted in the week of Liberal leadership
instability with Westpac concerned the uncertainty might lead to a fall in
confidence but apparently the concern of Liberal voters was far outweighed by
the confidence amongst ALP supporters.
Other factors said to have an influence were the official
interest rate cut, the fall in petrol prices, and a surging share market.
