201502.11

Consumer sentiment continues to rise


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11 February 2015:

I welcome today’s release of the Westpac-Melbourne Institute Index of Consumer Sentiment. It is positive for our economy to see this rise of 8.0 percent in February 2015. The index has risen to 100.7 points and is a significant indication of Australian’s confidence in the Abbott Government’s Economic Action Strategy.

February’s rise follows a rise of 2.4 per cent in January. This continued growth means that consumer sentiment is higher this year than last.

In addition to today’s positive consumer results, job advertisement levels are at their highest levels in over two years. Job ads have grown healthily at 13.6% throughout the year. This is the fastest yearly growth in over three and a half years.

In more good news for our economy and small business, over 200,000 jobs were created last year. This equates to around 585 new jobs each day, or a new job created in our economy every two and a half minutes.

In 2014 jobs growth was more than triple the rate seen in 2013.

I urge all Australians to ignore the ALP’s talk of doom and gloom. Instead I encourage the hard working women and men of small business to be as buoyed as I am by these results.