Australian Consumer Confidence Rises Helped By Falling Jobless Rate

By James Glynn

SYDNEY -- Australian consumer confidence rose for the first time in over a month last week bolstered by news that unemployment had fallen to its lowest level since 1974 in April.

According to a survey by the ANZ Bank and pollster Roy Morgan, consumer confidence rose 1.7% from the prior week.

ANZ Head of Australian Economics, David Plank said the rise in confidence followed a 7.7% decline over the past four weeks.

Household inflation expectations remained elevated at 5.3%, as average petrol prices rose sharply over the week, the survey showed.

Write to James Glynn at [e-mail]

(END) Dow Jones Newswires

05-23-22 1944ET