"Consumer confidence rose 0.5 per cent last week amidst rising cases and fresh lockdowns in Victoria and the ACT and an extension of the one in Sydney." ANZ Head of Australian Economics, David Plank said.
"The overall figure was due to rises of 8.0 per cent in SA, 11.4 per cent in WA and 1.7 per cent in Brisbane. The news about the strength of the labour market in July with, unemployment rate dropping to 4.6 per cent, might have added to the positive outlook."
"Confidence in Victoria and NSW remained at the lowest level among the states, falling 2.9 per cent and
1.9 per cent respectively. But even with this drop, sentiment in these two states remains well above the lows of last year."
"This supports our expectation that household spending will likely rebound sharply in lockdown areas when restrictions ease."