(Australian Associated Press)
Consumer confidence has risen to a one-and-a-half-month high, driven by an improvement in people’s attitudes to the economy and their personal finances compared to a year ago.
The ANZ/Roy Morgan weekly consumer confidence index rose 0.6 per cent to 113.2 in the last week, after falling 0.4 per cent the previous week.
ANZ chief economist Warren Hogan said the rise was surprising considering that last week’s Chinese currency devaluation prompted market volatility.
“Confidence has remained broadly steady in the face of last week’s Chinese exchange rate devaluation, possibly due to the fact that the Australian dollar ended the week largely unchanged,” he said.