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Consumer confidence bounces back: ANZ

Michael Mehr
ANZ analysts say a survey suggests consumer confidence rose after the federal election

Consumer confidence rose over the weekend as the coalition's federal election win appeared to boost sentiment, an ANZ economist says.

The ANZ-Roy Morgan Australian Consumer Confidence index increased by 2.1 per cent from the previous reading, which had recorded a fall of the same amount.

The weekly measure of consumer sentiment is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, meaning only some of the survey's respondents were aware of the coalition's victory that bucked polling indications of a Labor win.

"The surprise election result, which people surveyed on Sunday would have known, most likely had a significant impact on sentiment," ANZ economist David Plank said.

"The move only reverses the prior week's fall, however, so we won't overplay it".

The survey's "time to buy a household item" metric jumped 4.1 per cent to its highest level since the end of March.

It also recorded a 3.8 per cent rise in respondents' views of current economic conditions - a measure that had tumbled 8.1 per cent in the prior week.