Australian Consumers Confident about Economy: More Loans

Submitted by Marco on 14 April, 2006 - 00:28

The Australian Bureau of Statistics (ABS) found that total personal finance commitments lifted 2.1 per cent to an adjusted $6.490 billion in February - following a 3.6 per cent increase in January. This could be translated in a consumer confidence in the economy. This may be attributed to an unemployment rate at a 29 year low of 5 per cent and job advertisements at record levels. (The number of job advertisements can be translated as a forward indicator of job growth) Another factor that may have given this level of consumer confidence is the stable interest rates we've been enjoying in recent times.