Consumer confidence up 8.3%
Consumer sentiment has grown, boosted by lower interest rates, government incentives and rising sharemarkets. A survey of 1,200 people by the Westpace-Melbourne Institute recorded an 8.3% rise in consumer confidence in April.
It is the first rise in three months and is 6.0% higher than April 2008.
Westpac chief economist Bill Evans says: “This is a surprisingly strong result. Concerns about the global economy have eased as share markets have boomed. A further positive response to the fiscal stimulus package is likely to be buoying consumers.”
