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Australian consumer confidence lifts

Xinhua, June 30, 2015 Adjust font size:

Consumer confidence has hit its highest level in 18 months in Australia, fueled by an improved job market.

The ANZ-Roy Morgan consumer confidence index released on Tuesday rose two percent to 116.3 in the week to June 28, the best result since January 2014.

It was helped by a 5.7-percent lift in views about economic conditions over the next 12 months.

ANZ chief economist Warren Hogan said the number showed that consumer confidence was on the up.

"In our view this is because of improving labor market conditions and reduced anxiety about job security and employment opportunities," Hogan said.

"What is critical now for the Australian economy is this emerging consumer confidence to be sustained and translated into steady consumer demand and ultimately business confidence." Endi