Australia consumer sentiment takes turn for worse

The Westpac-Melbourne Institute index of consumer sentiment fell 1.3% in January, from December, when it rose 2.7%. — Reuters

SYDNEY: Australian consumer sentiment took a turn for the worse in January as cost-of-living pressures and higher mortgage rates stoked concerns over finances, a survey shows.

The Westpac-Melbourne Institute index of consumer sentiment fell 1.3% in January, from December, when it rose 2.7%. The index reading of 81.0 showed pessimists greatly outnumbered optimists, much as it did over all of 2023.