The Westpac-Melbourne Institute consumer sentiment survey dipped in January to 92.1, down 0.7% from the month prior.
Consumers’ assessment of their finances compared with a year ago reversed December’s gains. Other forward looking measures were more stable; with expectations about family finances in the upcoming 12 months reversing last month’s decline. Simultaneously, confidence around the economic outlook in the next 12 months was unchanged after a fall in December.
Despite ongoing pessimism among consumers, the overall mood remains elevated compared to a year ago—so there is that!

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