Australia says ‘no worries’
19 February 2016 by News DeskAustralia has seen a rise in consumer confidence across the country as people turn their back on worldwide problems and say, ‘no worries.
Australia has long been known as the ‘lucky country’ and there is a good reason for this… confidence.
And the national trait of Australia is reflected in latest figures that reveal how people are feeling right now.
Consumer confidence across Australia rose 2% in the week ending 14 February. This follows a 0.2% increase in confidence the previous week.
“There is a lot of uncertainty in the wider world,” says Darrell Todd, CEO of thinkingaustralia. “But people in Australia remain confident about their current situation and their future.”
The issues that most concern the average Australian include employment, the cost of living and the value of their home, according to the latest ANZ-Roy Morgan consumer confidence index.
Australians’ optimism about the future has also risen. There has been a 4.6% increase in confidence surrounding economic outlook for the coming year.
The report says that all five main measures of confidence have increased.
“These latest figures show that across Australia, people remain confident despite bad news from the wider world economy,” says Darrell Todd.
The rise in confidence is above the long-term average. And there has also been a 1.6% rise in consumers’ confidence about the economic outlook over the next five years.
The measure of peoples’ current financial situation has increased by 1.2% compared to the same time a year ago. Peoples’ confidence about their own finances in the coming year has also risen, by 0.2%.
The confidence at the core of the Australian character is reflected in the wider economy.
“Hundreds of thousands of new jobs are being created every year, new businesses are starting up all over the country, the population is rising – there’s never been a better time to be an Australian,” says Darrell Todd.
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