Sentiment lifts as consumers turn to concerns at home

Consumers who are focused on local property values and continuing jobs growth, have contributed to a 7.8% jump in the Westpac-Melbourne Institute consumer sentiment index from 92.2 in July to 99.5 in August. According to Westpac’s chief economist Bill Evans, the August leap follows a 3.3% slump last month, due to upheaval in equity markets in China and Europe.