Consumer confidence stays steady
The ANZ/Roy Morgan consumer confidence index was unchanged last week, following a 2.7 per cent jump the previous week which brought the four week average to its highest level since just before the Federal Budget.
ANZ chief economist, Warren Hogan, said the steady result was helped by a 0.9 per cent improvement in the family finances index.
“Healthy levels of consumer confidence, combined with a lower Australian dollar, rising house prices and a gradual strengthening in labour demand, should provide good momentum to retail sales as we head into the Christmas spending season,” he said.
“However, soft income growth will remain a headwind to the household sector into 2015.”