Consumer confidence lifted back to average levels in November after broadly trending lower since March.
The ANZ-Roy Morgan headline index of consumer confidence lifted four points to 118.6 points in the latest month – a reading of 100 means pessimistic and optimistic consumers are balanced.
Within that index, the current conditions index eased a point with a net 10 per cent of consumers feeling financially better off than a year ago. But the future conditions component rose six points with a net 26 per cent expecting to be better off in a year's time.
A net 32 per cent of consumers think now is a good time to buy a major household item, down a point from last month, while perceptions regarding the next year's economic outlook lifted eight points to a net seven per cent. The five-year outlook lifted four points to a net 18 per cent.
"Consumers are feeling pretty resilient, with confidence bouncing back to sit around historically average levels," says ANZ chief economist Sharon Zollner.