For the first time in close to two years, optimists outweigh pessimists in Australia! At least, according to the latest Westpac-Melbourne Institute consumer sentiment index which rose 12.8% in November to 103.8 points—above 100 for the first time since February 2022.

Consumer confidence around the economic outlook and family finances in the next 12 months has improved, outweighing inflation and interest rate concerns. Despite improved confidence, anxiety around unemployment is increasing.