16 Nov 2012

Consumer confidence up but ....

7:36 am on 16 November 2012

Consumer confidence is up, but there appears to be no clear direction in sentiment.

The ANZ-Roy Morgan consumer confidence index rose about four points to just over 114 in November.

A reading above 100 shows optimism, and below it pessimism.

Four of the five indexes measured picked up, while people still feel they are financially worse off than a year ago.

The monthly result comes after both rises and falls in confidence over most of the year.

The composite growth indicator, which combines ANZ's business and consumer sentiment surveys, suggests growth of about 2% by early next year.