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Australia consumer sentiment edges up in Oct

A closely watched measure of Australian consumer confidence edged up further in October, with optimism about the economic outlook balanced somewhat by caution on making major purchases, a survey showed last week.

The survey of 1,200 people by Westpac Bank and the Melbourne Institute showed its index of consumer sentiment rose 0.4 percent to 97.2, building on a hefty 8.1 percent jump the month before. The index was still down 16.9 percent on October last year.

Westpac chief economist Bill Evans thought the steady result likely reflected the flow of mixed news recently, with global markets remaining very volatile but fears of a domestic rate rise diminishing.     

(Source: CNBC)