Australian Consumer Confidence And Optimism Surges

Post by NeilMc on January 11, 2010 · Under Australian Economy, Business News · Comment 

The latest survey conducted by credit card giant MasterCard shows that Australians are amongst the most optimistic consumers globally over their prospects for the next six months.

According to the MasterCard Worldwide Index of Consumer Confidence, Australian consumer confidence has surged dramatically, with its index rating rebounding to 69.5 compared with 24.1 just six months ago.

A zero score indicates that consumers are the most pessimistic possible, whilst a score of 100 indicates that consumers are as optimistic as is possible, whilst a score of 50 suggests that consumers are neutral.

The survey calculates the level of consumer confidence based on five parameters, which include, the economy, employment, the equity market, regular income and quality of life.

The most recent survey by the credit card giant occurred between October 1st and November 9th 2009, and polled 10,623 consumers in 24 different countries.

The survey results show, that in 21 of the 24 countries polled, there was positive consumer sentiment, reflecting the recovery in the global economy.

A MasterCard spokesperson said that the optimism Australians felt about their future prospects was shared by people right across the region.

“These results reflect the relative resilience of the local economy by global comparison, and a confidence by Australians that the year ahead will be better,” The spokesperson said.

The spokesperson added that the extremely positive result should provide businesses with the impetus to rebuild after an extremely difficult 2009.

Consumer confidence in the Asia-Pacific region increased to 66.3 from 38.7 six months ago.

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