Australia consumer sentiment rises as inflation ebbs

The confidence across corporate Australia extended to households, with consumer sentiment climbing 5.3% to 94.6 points. — Bloomberg

SYDNEY: Australia’s consumer sentiment rose in November while business confidence jumped to the highest level since early 2023, reflecting ebbing inflation pressures that suggest the next move in interest rates will be a reduction.

A National Australia Bank Ltd (NAB) survey showed yesterday that business confidence climbed seven points in October after hovering around zero for an extended period. Conditions, which measure jobs, sales and profitability, remained unchanged.