Money Daily Brief: G20 is world's new economic order

•US consumers upbeat: A sentiment index rose to 73.5 in September, its highest level since the beginning of 2008 (.pdf), but most consumers judged their own finances had deteriorated. Separately, new orders decreased 2.4 percent in August, mostly on a big drop in the volatile category of orders for civilian airplanes. More worrying was the 0.4 percent drop in core nondefense capital goods orders, the second monthly decline in a key indicator of business investment.

•Still spending: The world’s biggest recession for nearly a century has failed to dent overconsumption of resources, a respected British think tank said. The New Economics Foundation warned about the ecological impact of continued debt-fueled consumption, particularly by western consumers.

•In my backyard: As share markets elsewhere struggled, Australian stocks staged a turnaround on the back of strong gains in the financial sector helped by the country’s fourth-largest lender swallowing up the Aussie and Kiwi operations of Dutch-based bank ING. Australia & New Zealand Banking Group Ltd will buy ING’s stake in a joint life insurance and wealth-management venture for $1.8 billion (Australian; US$1.5 billion). As further proof of Australia’s robust growth, one forecaster said its dollar is set to achieve parity with the US greenback next year, the first time in 30 years.

– Ben Quinn, a Monitor correspondent based in London, reported from Sydney, Australia. For a look at the Group of 20's evolving role, see G20 as world's top economic body? Doubts abound.

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