Consumer Sentiment Up Again

Consumer Sentiment
The monthly Westpac-Melbourne Institute survey released yesterday has shown that consumer sentiment has risen for the second month. It rose 9.3 per cent in July to 109.4 points from 100.1 points in June. It follows a 12.7 per cent jump in June, pushing the gauge above the 100-point mark that divides pessimism from optimism.
"This is now the highest level of the index since December 2007," Westpac chief economist Bill Evans said in a statement. "It is 38.5 per cent above its level a year ago and at 109.4 optimists decisively out-number pessimists for the first time since December 2007."

IMF - Recession Easing, Recovery Fragile
In an update of its World Economic Outlook, the IMF said the global economy is likely to contract 1.4 per cent this year, a touch steeper than the 1.3 per cent decline it projected in April.
However, it now sees world economic growth picking up to 2.5 per cent in 2010, compared to an April projection of 1.9 per cent.