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Financial News: Australia Consumer Confidence Strengthens Further

Australia Consumer Confidence Strengthens Further

01/15/2018 - 23:08:00 (RTTNews)

(RTTNews) - Australia's consumer confidence continued its uptrend during the week ended January 14, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index climbed to 123.5 from 112.0 in the preceding week. Moreover, this was the highest score since October 2013.

The current finances sub-index rose 2.0 percent last week, while views around future financial conditions eased by 0.2 percent.

"The rise in confidence is quite encouraging and is consistent with the positive data out on building approvals and retail sales," ANZ's head of Australian Economics, David Plank, commented.

"In particular, the improvement in overall economic conditions since September supports our view of solid economic activity in 2018."

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