Consumer confidence has risen for the third straight week but the upcoming federal budget could deliver a blow to the recovery, ANZ's top economist says.
Confidence rose 0.8 per cent last week, as low interest rates, cheap petrol and booming house prices made households more upbeat about their finances, the latest ANZ/Roy Morgan consumer confidence survey shows.
ANZ chief economist Warren Hogan said while a further rate cut from the Reserve Bank would give confidence another boost, the May federal budget would be a key test of fragile household sentiment.
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