Australian consumers are starting to see the light at the end of the tunnel, expressing renewed hope for the future, the latest MasterCard Worldwide Index of Consumer Confidence reveals.
The index found consumer confidence in Australia has rebounded dramatically, with Australia’s index rating surging to 69.5 compared to 24.1 six months ago (a rating of 100 being most optimistic and zero as most pessimistic).
The survey, conducted from October 1 to November 9, 2009 involving 10,623 consumers from 24 markets, found 21 of the 24 markets reflected positive consumer sentiment as the global economy recovers.
Andrew Cartwright, country manager, Australia, MasterCard Worldwide, said the greater optimism among Australians was shared 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,” he said.