19 Apr 2012

Consumer confidence on the rise

11:15 am on 19 April 2012

Consumer confidence has risen, with households showing more signs of optimism for the coming year.

The ANZ-Roy Morgan Consumer monthly confidence index increased 4 points to 114 in April, after declining in the two previous surveys.

A reading above 100 shows optimism while a reading below indicates pessimism.

ANZ chief economist Cameron Bagrie says consumers seem to have "a little more spring in their step" than in the past four years, and that looks likely to flow into some consumer spending, although he warns there have been false starts before.

The index shows fewer households feel worse off as regards their current financial prospects, while more are upbeat about their well-being in a year's time.

As for the economy as a whole, the number of respondents expecting good times ahead slipped back.