Consumer Confidence Increased on the Back of Low Unemployment

Shoppers are seen in Westfield Bondi Junction in Sydney, on March 23, 2020. Jenny Evans/Getty Images

Australian consumer confidence has surged despite the negative economic impact of Victoria’s fourth lockdown and the emergence of a new COVID-19 cluster in Sydney.

According to ANZ-Roy Morgan’s consumer confidence index, it has risen 1.3 percent this week to 112.4 points, which is above the weekly average score and 14.9 points higher than the same week one year ago.