Consumer confidence has reached its highest level since 2010 and households continue to build savings rather than buy shares, according to the Westpac Melbourne Institute Index of Consumer Sentiment.
There was a big increase in the number of consumers who said their family finances had improved over the past 12 months. However, there was a fall in expectations for family finances in the coming year, which suggests that people remain cautious and will take a conservative approach to their finances.
Source: Banking Day
