The Australian --- Page: 27 : 12 July 2007 Original article by David Uren
ABIX Summary
Westpac Banking and the Melbourne Institute have issued the latest data on Australian consumer confidence. In early July 2007, the index reached 120.8 points. While a slight decline from a new high witnessed in May 2007, the prevailing mood is still very optimistic, with most households comfortable with their financial liabilities and looking to spend on new purchases. The resulting inflation may force the Reserve Bank of Australia to raise interest rates, but this is unlikely to occur before 2008 according to Westpac's chief economist, Bill Evans.
