AU: Confidence rises from the depths of gloom

From aap.com.au

Australians appear to be adjusting to a world of rising inflation and interest rates, aided by recent state budget initiativesAustralians appear to be adjusting to a world of rising inflation and interest rates, aided by recent state budget initiatives. The ANZ-Roy Morgan consumer confidence index jumped 3.7 per cent in the past week, building on a modest gain the previous week and after a near-eight per cent slump earlier in June in response to a big rise in interest rates. “The improvement in sentiment doesn’t mask the fact that it remains exceptionally weak,” ANZ head of Australian economics David Plank ... (full story)