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An index measuring consumer confidence in Australia was down 3.8 percent on month in December, the Westpac-Melbourne Institute consumer sentiment index revealed on Wednesday, posting a score of 113.8.
That's down from 118.3 in November, when the index had eased 2.5 percent on month - although analysts thought it could have been worse.
"We expected that there was a real possibility that the index would fall much more sharply than the 3.8 percent which it has registered," economist Bill Evans said in a statement that accompanied the data. "With households now holding even more debt relative to their incomes we expect that we must be getting close to levels of the variable mortgage rate where households will become much more sensitive than is currently the case."
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