Consumer confidence gains on better news

Liza Kappelle
(Australian Associated Press)

 

Australian consumer confidence has improved after more encouraging jobs and retail news and milder weather eased the bushfire crisis.

The ANZ-Roy Morgan Australian Consumer Confidence index gained 1 per cent last week after news on building approvals, job vacancies and retail sales.

The weekly measure of consumer mood, released on Tuesday, is based on about 1,000 face-to-face interviews conducted in people’s homes on Saturdays and Sundays.

The result offers hope for some recovery in consumer spending after what appears to be a very subdued Christmas retail season, ANZ Head of Australian Economics David Plank said as the report was released.

“With milder weather seeing the intensity of fires diminish, though not by enough to present further tragic loss of life, and some better economic news in the form of building approvals, job vacancies and retail sales, it is not surprising that much of the weakness in economic conditions reversed,” Mr Plank said.

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