Australia's Consumer Confidence Improves


Australia's consumer confidence improved for the second straight time during the week ended March 4, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index rose 0.9 percent to 119.0 from 117.9 in the preceding week.

The result was mixed, with two of five sub-indices showing declines.

The sub-index for current economic conditions climbed 5.1 percent last week and future economic sentiment gained by 0.9 percent.

"It is pleasing that consumer confidence has been able to add to last week's strong gain, if only a touch," ANZ's Head of Australian Economics, David Plank, said.

"This means that confidence has managed to recover much of the ground lost in response to financial market volatility and the unsettled local political environment."