Consumers look beyond dark clouds

Consumer confidence edged up at the weekend, according to the mixed results of an ANZ survey signalling household optimism about the longer term future but concern about the current state of the economy.

The ANZ-Roy Morgan Australian Consumer Confidence index rose 0.3 per cent from the previous week, with respondents’ perception of the economy – including the outlook for the next 12 months – falling 2.7 per cent but sentiment about conditions during the next five years gaining 3.8 per cent.

The weekly measure of consumer mood, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, also recorded a 3.3 per cent drop in how people felt about their current financial condition compared with a year ago and a 1.3 per cent increase regarding their finances during the next 12 months.

AAP

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