Aussies Spending Spree Drives Rise in Consumer Confidence
The persistently strong labour market and Black Friday sales are likely leading to a rise in consumer confidence, which improved for the second week in a row.
The weekly pulse check of consumer sentiment remains well below historical averages, sitting at levels last seen in the early stages of the pandemic.
The one percent lift in ANZ and Roy Morgan’s consumer confidence indicator last week follows a 2.7 percent increase the previous week.
Before that, the index fell for six months in a row.
The “inflation expectations” survey question dropped slightly, which probably helped boost the overall index’s score, as did “time to buy a major household item”….