Boost for retailers

A FURTHER drop in the jobless rate has lifted consumer confidence to its highest level in 16 weeks, providing ray of hope in what could be a tough Christmas period for retailers.

The ANZ-Roy Morgan consumer confidence index rose a further 1.4 per cent in the past week – building on the previous week’s 2 per cent gain – aided by a drop in the unemployment rate to 5.4 per cent.

“The success of the Yes vote in the marriage equality survey may have also given a boost to confidence,” ANZ senior economist Felicity Emmett said.