Australia ANZ Consumer Confidence
For the week ended September 20 ... the week we got a new PM
That's the biggest rise in a week on record
ANZ comments:
- Bounce in confidence was broad-based
- In particular, views on economic conditions over the next year jumped 25.8% (2nd largest one-week gain since the series began in 2008)
- Confidence in the economy over the next five years also gained a robust 13.4%, but remains well below its long-run average
Chief Economist Hogan:
- "The sharp jump in consumer confidence last week is a clear vote of confidence in the new Prime Minister, Malcolm Turnbull
- For the bounce to be sustained, however, the new Prime Minister and his colleagues will need to deliver a medium-term reform strategy in the context of a clear economic story for the country"
Like I said in my preview, this is just one week's figures and for a lasting positive impact on the Australian economy the boost in confidence will need to be sustained. yes, this is only one week's figures, but it's a good start.
