19 Apr 2013

Consumers more positive about economy

8:11 am on 19 April 2013

Consumers are feeling slightly more upbeat about their prospects and the economy in the coming year, according to a consumer confidence index.

The ANZ Roy Morgan consumer confidence index rose four points to 119.2 in April. A reading above 100 shows optimism.

It found consumers felt less worse off financially than a year earlier, and more positive about their own financial prospects and the economy in general over the coming year.

According to the index the number of people thinking it is a good time to buy a major household item has risen to its highest level in nearly six years, from 31% to 40%.

ANZ chief economist Cameron Bagrie says sentiment has picked up in part due to rising property values, though he warns confidence is only marginally above the historical average of 117.