News & Analysis » Asia

Australia Consumer Sentiment Rebounds In February - Westpac/Melbourne

(RTTNews) - Consumer sentiment in Australia rebounded in February.

The Westpac Bank-Melbourne Institute index of consumer sentiment was up 1.9 percent on month in January to 106.6.

The index bounced back after falling 5.7 percent in January.

The index measuring the economic outlook for the coming 12 months increased 1.1 percent in February after plunging 15.7 percent in January.

"We can best describe the result in February as a modest rebound from the strong reaction to the floods in January," said Westpac Chief Economist Bill Evans in a statement accompanying the report.