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Australian Consumer Sentiment Improves, But Outlook Remains Subdued
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Overview
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Australian consumer sentiment improves in December, ending a second-worst year on record, with a reading of 82.1. Despite the RBA's decision to keep interest rates unchanged, concerns about surging cost of living and higher interest rates persist, leading to a subdued outlook for the year 2023.
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How might the subdued outlook for the year 2023 impact consumer spending and economic growth in Australia?
What factors could influence the trajectory of Australian consumer sentiment in the coming months and years?
What strategies could the Australian government and financial institutions employ to address the concerns about surging cost of living and higher interest rates?
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