Australia's Consumer Confidence Improves

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Australia's consumer confidence improved during the week ended March 18, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index rose 2.2 percent to 118.5 from 116.0 in the preceding week.

After declining in the previous two weeks, household sentiment towards current and financial conditions strengthened notably during the week.

"The bounce follows last week's report showing business conditions at a new record high and suggests that both the business and household communities remain optimistic about the outlook," ANZ'S senior economist, Felicity Emmett, said.