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