Australian consumer confidence grows
Australians are exhibiting a strong willingness to break free of the global financial crisis, according to new research published by Nielsen.
The latest Nielsen Global Confidence Survey covering 28 markets across the world has revealed Australia’s Consumer Confidence Index to be the fifth highest and just behind the fast-growing developing nations of Indonesia, India, the Philippines and Brazil.
The Nielsen survey analysis suggests that on the back of economic data suggesting Australia narrowly escaped a technical recession, there are signs consumers believe the worst is over.
It said 44 per cent of Australians believed now was a good or excellent time to buy the things they want, indicating a renewed willingness to spend on discretionary items.
As well, 59 per cent of respondents described their personal finances as being good or excellent for the year ahead.
Nielsen Pacific Consumer Group managing director Chris Percy said growing consumer optimism driven by less negative press about the economy in the past few months had led Australian consumers to believe that economic recovery would come sooner rather than later.
AUTHOR
Mike Taylor
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