According to the latest Roy Morgan statistics, Consumer Confidence has jumped to 119.0 (up 9.4pts) to start 2012 showing the biggest jump recorded in Roy Morgan Consumer Confidence since it became a weekly survey in October 2008. It is also the biggest jump to start the New Year since January 2003 (122.5, up 12.9pts).

The rising Australian Dollar (now at USD$1.03, up from USD$0.99 in mid December) and the accompanying rise in confidence have both helped to give retailers a better start to 2012 than many had forecast.

Also improving strongly are Australians perceptions of their personal financial situations with 42% (up 6%) expecting to be ‘better off’ financially this time next year and 33% (up 6%) saying their family is ‘better off’ financially than this time last year.

Australians are also more optimistic about Australia’s economy over the next twelve months with 33% (up 3%) of Australians expecting Australia to have ‘good times’ economically compared to 31% (down 5%) that expect ‘bad times’ economically.

Source:  Roy Morgan Research - Article No. 1545