Consumer confidence steady

Consumer confidence was steady last week and is 11 per cent higher than a year ago, the weekly ANZ-Roy Morgan survey shows.

Consumer confidence was steady last week, holding onto the gains made after the release of the federal budget in May.

The latest ANZ-Roy Morgan weekly index on confidence levels showed it was flat at 113.5 points, but it remains 11 per cent higher than a year ago.

The sub index measuring expectations for the economic outlook for the coming financial year is 5.7 per cent higher than a month ago, the survey showed.

ANZ chief economist Warren Hogan said the big question is whether consumer confidence will build on its gains following the budget.

"Solid growth in house prices continues to be supportive for confidence but household fundamentals outside of housing remain weak amid low wages growth, a soft labour market, and high household debt," he said.


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Source: AAP


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