Consumer confidence continues long climb out of gutter

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The ANZ-Roy Morgan Australian Consumer Confidence index rose 0.4% to 92.7 in the week to 24 May, its eighth straight increase. However, it has a long way to go to return to ‘normal’ levels:

Confidence up 0.4%:

Confidence gained for the eighth straight week and is up 42% from its low point in March, when fears about the pandemic were at the most extreme.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.