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More progress as Victoria reopening and vaccines drive gains:
ANZ-Roy Morgan Aus Consumer Confidence: This week’s 3.4% up-tick, after last week’s 3.2% rise, is the 11th gain in a row, hitting the highest level since February. The strong result points to strong Christmas spending. #ausecon #ausretail @DavidPlank12 @roymorganonline pic.twitter.com/sLTbiHWxQ3
— ANZ_Research (@ANZ_Research) November 16, 2020
Obviously, the result still points to weak Xmas spending but these bank economists can’t help themselves.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.