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Consumer confidence is closely linked with retail spending. Photo: Attila Csaszar

Household budgets squeezed, sentiment low

Soaring power bills and other hits on the household budget mean consumers remain downbeat despite a better jobs outlook, an economist says.

The latest Westpac-Melbourne Institute Index of consumer sentiment rose 2.5 per cent in September to 97.9 points, from 95.5 in August, but was 3.5 per cent weaker compared with a year ago.

Westpac chief economist Bill Evans says the rising cost of living and worries about a potential interest rate hike have stymied consumer confidence this year.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
117thCIMIC Group70%16%
280thLendlease17%20%
315thANZ Banking Group9%14%
404thWestpac-2%13%
717 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

11/11/14
$0 Bought
11/11/14
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

7th↑Westpac$21,642.0m
8th↓ANZ Banking Group$21,071.0m
10th-Lendlease$15,350.3m
12th-CIMIC Group$13,325.4m
76 listed non wa companies ranked by revenue.
Source: Morningstar

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