Australian Consumers Regain Confidence as Jobs Picture Stays Strong
Australian consumer confidence has bounced back strongly from record lows in previous weeks as more Australians hold a positive view of the jobs market and the economy’s strength.
The ANZ-Roy Morgan survey indicated that the consumer confidence index jumped 4.9 percent in the week commencing Aug. 8, the most significant rise in 16 months.
At the same time, all of the survey’s confidence sub-indices saw improvements except “time to buy a major household item,” which decreased by 0.5 percent.
While the “current financial conditions” sub-index increased by 5.4 percent, “future financial conditions” recorded an 8.2 percent growth and moved back into net positive territory for the first time since late May….