Australia's consumer confidence improved for the third straight time during the week ended May 7, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.
The consumer confidence index rose slightly by 0.9 percent to 112.3 from 111.3 in the preceding week.
Households' views towards the economic outlook, both near and long term, posted solid increases of 5.0 percent and 4.9 percent, respectively during the period.
The five year economic outlook reached at its highest value since mid-February. The corresponding index climbed to 107.3 from 102.3.
The weekly measure of inflation expectations ticked down to 4.4 percent from 4.6 percent last week, the four week moving average remained unchanged.
"The stabilisation in consumer confidence after a period of trend decline is encouraging, albeit at levels below the long term average. This stabilisation may be a sign of an improving labor market," ANZ's Head of Australian Economics David Plank commented.
"ANZ Job Ads and other business surveys point to further gains in employment in coming months, following on from the strong result in March."
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