Consumers take heart as good numbers roll in
by Alan Thornhill
Consumer confidence is up, despite this week’s widely predicted rise in interest rates.
And the good economic news keeps rolling.
The Roy Morgan organisation reports that consumer confidence rose strongly in the final week of February.
It is now 34 points higher than it was in March last year, when Australians were very worried about the global economic crisis.
The Australian Bureau of Statistics is also reporting a sharp improvement in Australia’s trade.
Australia’s exports rose by 1 per cent in January, while imports for the month fell by 3 per cent.
That meant Australia’s trade deficit fell by almost $1 billion during the month.
Low export prices and strong imports slashed 1.2 per cent from Australia’s economic growth, in the final three months of last year.
However the nation still managed to chalk up 0.9 per cent growth in that time.
And, if sustained, January’s improvement should contribute to further economic growth in the early months of this year.
The Roy Morgan survey showed that 48 per cent of Australians now expect their families to be better off at this time next year.
That was the highest level, seen on this indicator, since October last year.
Only 14 per cent expected their families to be worse off.
The organisation’s chief, Gary Morgan, saw this week’s rate rise, too, as a positive sign.
He described it as :”…a firm sign that the RBA (Reserve Bank) believes the Australian economy is on a sustainable growth path…”
Related stories:
1 Comment
Profile
News to Use
- The Latest
- Extra help for flood victims
- A missed chance: builders
- Rates on hold – for now
- Business expectations “bounce back”
- Extra help for flood victims
- Retail sales still trending upwards
- A tight Christmas in resource rich States
- Child care assistance:don’t miss out
- A Ruddy spectre still haunts PM
- Treasurer slaps the big banks
- Bank jobs go as Australians shun new loans
- Home building approvals fall
- Australia’s trade surplus up
- Big – phased – pay rises for community workers
Topics
- Airlines (12)
- Banking (1293)
- Business (1416)
- Communications (32)
- Disaster (83)
- Economics (1434)
- Environment (73)
- Financial advice (1184)
- Health (45)
- Housing (396)
- Inflation (393)
- Insurance (59)
- Investment (1241)
- Markets (974)
- Media (84)
- Politics (1300)
- Regulation (570)
- Rural australia (84)
- Security (13)
- Social security (133)
- Superannuation (160)
- Tax (224)
- The latest (1)
- Trade (268)
- Uncategorized (264)
Archives
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- September 2007
- August 2007
Recent Comments
- Liam Knuj on The Prime Minister, Julia Gillard’s, New Year’s Message
- Change is for the better,change is where your heart grows stronger on Family Assistance boost
- Harry on The Prime Minister, Julia Gillard’s, New Year’s Message
- Matthew on Rates likely to be steady
- Alan Thornhill on Carbon price:Treasury’s modelling




Alan Thornhill is a parliamentary press gallery journalist. Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
[...] Consumers take heart as good numbers roll in [...]