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Financial News: Australia's Consumer Confidence Improves Sharply

Australia's Consumer Confidence Improves Sharply

01/08/2018 - 22:54:00 (RTTNews)

(RTTNews) - Australia's consumer confidence strengthened notably during the week ended January 8, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index climbed to 122.0 from 116.5 in the preceding week. Moreover, this was the highest score since November 2013.

All the sub components showed significant increases during the week.

Consumers remained optimistic about financial conditions, which rose to the highest since early 2017.

"ANZ-Roy Morgan Australian Consumer Confidence starts the year on a high as the festive mood carries on to 2018," ANZ's head of Australian Economics, David Plank, commented.

"Continued strength in the labor market, and a strong performance in the Ashes series likely helped sustain the cheer among consumers."

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