17 May 2013

Consumer confidence rises

8:13 pm on 17 May 2013

Consumer confidence rose to a three-year high in May.

The latest ANZ Roy Morgan consumer confidence index rose 4.5 points to 123.7 in May, as households were more optimistic about the outlook for economy.

Chief economist at ANZ, Cameron Bagrie, says confidence in the current state of the economy is at its highest level in more than 5 years..

The ANZ's composite growth indicator, which combines its business and consumer sentiment surveys, suggests the economy will be growing at an annual pace of 3.5% by mid-year.