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1.Market Observations

16 Feb 2012 – Consumers look on the bright side

(16 Feb 2012, AFR, p10, Adrian Rollins)

‘The mood of consumers improved sharply this month despite recent gloomy news about the economy, the Westpac-Melbourne Institute consumer sentiment index shows.’

‘The measure of how individuals feel about the state of the economy rose 4.2 per cent to 101.1, its highest level since November.’

‘The data was collected from Monday to Friday last week, which means it incorporated news of the Reserve Bank of Australia’s decision to keep interest rates steady but not the big four banks’ decision to increase ­mortgage rates.’

‘The improvement suggests consumers are shaking off the gloom of December, when fears that Europe’s sovereign debt crisis could trigger another global financial meltdown were at their height.’

Read more at AFR.com

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