Consumer confidence rose to a three-year high in the latest ANZ-Roy Morgan Consumer Confidence survey.The survey's confidence measure rose 12.8 points in January to 131.4. This is the largest monthly movement since September 2008.The survey's authors note
Consumer confidence rose to a three-year high in the latest ANZ-Roy Morgan Consumer Confidence survey.
The survey's confidence measure rose 12.8 points in January to 131.4. This is the largest monthly movement since September 2008.
The survey's authors noted greater confidence across the board, including in consumers' view of both current and future conditions.
There is still a wide gap between expected and current conditions measures but the combination of a recovery in the housing market and a prospective peak in the unemployment rate early this year may be lifting confidence.
The laggard remains how families view their financial position, compared to a year earlier. A net 2 percent think they are worse off. Still, this is up from a minus 22 percent reading in December.
Consumers' view towards their own financial position a year out rose 10 percentage points.
A net 39 percent expect better times for the economy over the coming year, up 17 points.
The future conditions index in the survey has rocketed to 146 -- an all-time high since the survey's inception in 2004.
The survey's current conditions measure lifted 15 points and is now above 100.
"This portends of a preparedness to open the wallet," ANZ said.
