Consumer confidence jumps: Westpac survey

QUEENSLAND consumer confidence has hit an 18-month high, according to the latest consumer sentiment survey. 

Westpac-Melbourne's Institute Consumer Sentiment Index (CSI) hit 100.2 points for Queensland, rising 10.7% in the month of May.

On a national level, sentiment jumped 6.4% to 102.4 following the Federal Budget and a rate cut earlier this month.

New South Wales was the only other state where the index rose above the neutral level of 100. 

 

Queensland Treasurer Curtis Pitt said it's the first time the Queensland CSI has been above 100 since December 2013.

"Queensland businesses are also becoming more confident, as revealed in the latest NAB Monthly Business Survey - another encouraging sign for growth and jobs.

"According to NAB, business confidence in Queensland was the highest of any Australian state in April."

Mr Pitt said today's Westpac-Melbourne Institute was the latest in a series of positive economic indicators in Queensland.

Recent economic data shows:

• Queensland recorded the strongest real retail growth of any mainland State in the March quarter at 1.9 per cent (ABS);
• Dwelling approvals in Queensland rose 3.0 per cent in March - up 26 percent on the same time last year (ABS);
• Queensland merchandise exports were up 10.8 per cent to $11.4 billion in the March quarter (ABS); and
• 5,300 full-time jobs were added in Queensland in April, our sixth successive month of full-time employment growth (ABS).


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