Australia's Consumer Confidence Weakens

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Australia's consumer confidence weakened during the week ended March 25, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index dropped 0.9 percent to 117.4 from 118.5 in the preceding week.

Households were more optimistic about future financial conditions and the 'time to buy a household item', but this was more than offset by concern around the economic outlook.