The weekly ANZ/Roy Morgan consumer confidence rating rose 1.6 points (1.4%) to 116.4 in the week to March 13 – the highest reading since November 2015.

 

Confidence is up 5.1% over the year and is above above the average of 111.4 since 2014.

 

The estimate of family finances over the next year was up from +28 to +35 – the highest reading since January 2010.

 

The good news for retailers is that consumers are seemingly looking forward to the next year with a healthy level of optimism. The estimate of family finances over the next 12 months has lifted to the highest levels since January 2010 – essentially at the height of the commodity boom.

 

Consumers continue to believe it is a good time to buy a car, fridge, washing machine or television. Retailers don’t seem to be in a rush to lift prices, so affordability is good.