Consumer Confidence jumps

Source: Roy Morgan

“The weekly Roy Morgan Consumer Confidence Rating has risen to 124.2 (up 4.4pts in a week since October 5/6, 2013) to the highest level since January 8/9, 2011. The jump was caused by an increase in confidence about all components of the survey.

Now 42% (up 5%) of Australians expect the Australian economy to have‘good times’ over the next five years compared to 17% (down 2%) that expect‘bad times’ for the Australian economy.
Also 37% (up 3%) of Australians expect ‘good times’ economically over the next twelve months compared to 24% (unchanged) that expect ‘bad times’ for the Australian economy.
Australians are more confident about their personal finances compared to this time last year with 33% (up 1%) saying they are ‘better off’ financially than this time last year and 22% (down 2%) saying they are ‘worse off’financially (the lowest for nearly six years since December 2007).
Also 45% (up 5%) of Australians expect to be ‘better off’ financially this time next year compared to just 12% (unchanged) that expect their family to be ‘worse off’ financially.
An increased majority of Australians (55%, up 4%) say now is a ‘good time to buy’ major household items while just 16% (unchanged) of Australians say now is a ‘bad time to buy’.”

This means there is an increase in the Australian  Economy and shows a stability in finances meaning more Consumers are confident in the Property and Business Market.