Consumer confidence rose slightly
(0.2%) at the beginning of February but was basically unchanged according to the
Roy Morgan Research Consumer Confidence Rating.

Interestingly, the consumer
confidence rating shows that most Australians are positive about keeping their
own financial houses in order with no hike in interest rates likely in the
foreseeable future.

With the “positive” rise in
unemployment according to the ABS, Henry’s comment yesterday seems somewhat
prophetic…

“Recent economic news in
Australia (all minor indicators) has
been mixed, with consumer confidence reasonably firm but job vacancies weak and
business confidence subdued. All part of the confusion that must be expected
while we have such a “bifurcated economy”, with its head (the miners) in the
oven and its feet (the south eastern cities) in the
freezer.”

Read on at Henry
Thornton
.

Peter Fray

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