10.10.201719:56:00UTC+00Australia Consumer Confidence Spikes In October - Westpac

Consumer confidence in Australia spiked in October, the latest survey from Westpac Bank revealed on Wednesday - jumping 3.6 percent to a score of 101.4.

That follows the 2.5 percent increase in September to a score of 97.9 - and it moves above the boom-or-bust line of 100 that separates optimism and pessimism.

The October reading marks the highest score in a year amid consistent reports of an improving global economy.

Concerns about rising interest rates associated with overheated housing markets have eased, the bank said, while ongoing improvements in the labor market also may have boosted confidence.