Via Westpac:
• The Westpac Melbourne Institute Index of Consumer Sentiment declined 1.7% to 99.7 in November from 101.4 in October.
Last month’s return to slight optimism has proven to be short-lived. While the Index is still up 4.4% from its August low, the November decline takes it back below 100, indicating pessimists again outnumber optimists. In fact last month was the only month over the last year when optimists have been in the ascendency.