After being utterly crucified by the Federal Budget, consumer confidence has rebounded by around 6% over the past four weeks according to Roy Morgan research.
Always felt it as though it would be a temporary hit, but nevertheless it could be viewed as something of a relief to see consumer confidence levels rebounding towards their long-term averages after what was an absolute pounding.
From Roy Morgan:
"ANZ-Roy Morgan Consumer Confidence rose a further 2.4% to 105.7 in the week ending June 22. Consumer Confidence has now clawed back some of its earlier weakness, having risen around 6% over the past four weeks, which coincides with the recent recovery in house prices."