Victorians’ Confidence In Economy Strengthens

Photo: Financial Review

Acting Treasurer Robin Scott welcomed the Westpac-Melbourne Institute consumer sentiment index data, which shows consumer sentiment is 18 per cent higher that it was when the Andrews Labor Government was elected.

Victorians are buoyant about the State’s economic future, with consumer sentiment increasing 5.4 per cent in January – delivering the second highest sentiment of all mainland states.

The figures are consistent with Australian Bureau of Statistics (ABS) data released yesterday, which indicated Victoria delivered the greatest increase in new motor vehicle sales – 11 per cent – of all states in December 2017.

Victoria’s share of national new motor vehicle sales increased to 30.2 per cent in December, up from 28.4 per cent in November 2017.

Victorians’ confidence in the State’s economy also reflects figures released last week by the ABS, showing Victoria’s retail sales are growing faster than the national average, and equal highest among the states in November 2017.