By James Glynn


SYDNEY--Australian consumer confidence strengthened last week in response to new spending by state governments targeting rising living costs and access to affordable housing.

A weekly survey by ANZ Bank and pollster Roy Morgan showed confidence climbed 3.7% over the week, but the overall sentiment among consumers remains at historically pessimistic levels.

Weekly inflation expectations decreased 0.2 percentage points to 5.7%, the survey showed.

Sentiment around current financial conditions dropped 1.6% last week, adding to a fall of 13.9% over the last seven weeks. Future financial conditions gained 5.5% after a 5.1% rise the week before, according to the survey.

Current economic conditions decreased 2.5%, its fourth straight weekly decline, while future economic conditions rose 6.0% after a 7.1% fall over the previous three weeks.

Confidence around buying a major household item increased by 9.8% over the week, the survey showed


Write to James Glynn at james.glynn@wsj.com


(END) Dow Jones Newswires

06-27-22 1945ET