Bill Evans with the bad news for ScoMo:
• The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% to 113.1 in May from 118.8 in April.
While a 4.8% fall is always going to attract attention we should put this result in perspective. It is still the second highest print for the Index since April 2010 and does follow an 11% rise in the Index over the previous three months.