Consumer sentiment at year high level

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(Australian Associated Press)

For the first time in almost a year, there’s a majority of consumers feeling optimistic about jobs, household spending and economic conditions.

The latest Westpac-Melbourne Institute Index of Consumer Sentiment rose this month, taking the index at its highest level since October last year, with an improving global economy lifting consumer spirits.

Westpac chief economist Bill Evans says the turnaround was driven by easing concerns about rising interest rates as well as improvements to the labour market, particularly for builders due to ongoing residential projects.

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