Westpac Red Book: some more promising signs

The gloom that descended on Australian consumers two and a half years ago is finally starting to show more convincing signs of lifting. Our October Red Book finds the consumer mood has become considerably less bleak, buoyed by tax cuts and easing rate rise fears. That said, pessimism still dominates and spending looks likely to remain soft into year end. The consumer recovery looks like is still has a long way to go.