In good news for vehicle dealers, the weekly Morgan Consumer Confidence Rating is now at 117.4 points – up 2.4 points over the past week.
This is the highest since January, and is now a significant 6.2 points higher than a year ago.
Driving the rise was more confidence in Australia’s economic future, and also in personal financial situations, compared to a year ago.
Australians are more confident about Australia’s economy over the next twelve months with 32% (up 2%) of Australians expecting ‘good times’ economically compared to 28% (down 3%) that expect ‘bad times’.
Now 33% (up 1%) of Australians say their family is ‘better off’ financially compared to a year ago while 29% (down 4%) say their family is ‘worse off’ financially.
Over the next five years 35% (unchanged) of Australians expect Australia’s economy to have ‘good times’ economically while just 18% (down 3%) expect ‘bad times’ – the lowest since May.
Australians are also more positive about their personal finances over the next 12 months with 39% (down 1%) saying they expect their family to be ‘better off’ financially while just 18% (up 2%) expect to be ‘worse off’ financially.
A lesser majority of Australians (56%, down 2%) say now is a ‘good time to buy’ major household items and only 15% (down 4%) of Australians say now is a ‘bad time to buy’ major household items (the lowest since January).
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