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Australian consumer confidence falls: report

Xinhua, April 15, 2015 Adjust font size:

Consumer sentiment fell in Australia in the first half of April, in a worrying sign ahead of the Federal Government's May budget.

The monthly report, prepared by the Westpac Bank and the Melbourne Institute think tank and released on Wednesday, is closely followed by the Reserve Bank of Australia and other policymakers.

It showed a 3.2 percent decline so far this month to 96.2.

The report stated that is below the 100-point level that signals a 50-50 divide between optimist and pessimist households.

The report said a number of factors contributed to this month's decline in confidence.

One was the return of petrol prices to levels last seen in November.

And also was the Reserve Bank of Australia's failure to deliver a second consecutive interest rate cut this month, defying money market predictions. Endi