Roy Morgan’s weekly consumer confidence rating shows consumer confidence rising to 121.0pts (up 1.4pts since March 2/3, 2013).
In better news for retail vehicle sales, consumer confidence now sits 5.4pts higher than at the same time a year ago.
The rise in confidence has been driven by more confidence about Australia’s economic conditions in both the short term and longer term.
Now 39% (up 4%) of Australians expect ‘good times’ economically over the next 12 months for the Australian economy (the highest since May 7/8, 2011) compared to 22% (down 3%) that expect ‘bad times’ (the lowest since January 8/9, 2011).
Also 39% (up 2%) of Australians expect ‘good times’ for the Australian economy over the next five years compared to only 16% (down 1%) that expect Australia to have ‘bad times’.
Now a slightly larger majority, 59% (up 1%) of Australians say now is a ‘good time to buy’ major household items compared to 14% (down 3%) that say now is a ‘bad time to buy’.
However, Australians are less positive about their personal finances over the next 12 months with 38% (down 2%) saying they expect their family to be ‘better off’ financially while 15% (up 1%) expect to be ‘worse off’ financially.
Now just 28% (down 4%) of Australians believe they are ‘better off” financially than this time last year compared to 30% (down 1%) that say they are ‘worse off’.
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