Westpac-Melbourne Institute Consumer Sentiment Index surges 12.8% to 103.8.

• First positive read since early 2022 and a seven-year high (excl. COVID period).
• Expectations improve as domestic recovery firms, trade risks subside.
• Strong gain is despite a less confident outlook for interest rates and jobs.
• ‘Mortgage belt’ is a notable exception, sentiment dipping across this sub-group.
• Christmas spending plans less restrained than last year.