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Aussie consumer confidence up but still shaky: bank report

Xinhua, July 28, 2015 Adjust font size:

The latest gauge of Australia's consumer confidence showed a slight rise last week, but is expected to be damaged by volatility in the share market on Tuesday.

The ANZ-Roy Morgan consumer confidence index rose 0.6 percent in the past week, building on a 4.5 percent recovery of the previous week.

"The fact that confidence has held the previous week's bounce is a positive sign that confidence could continue to recover in coming weeks in the absence of further market volatility," ANZ chief economist Warren Hogan said when releasing the figures on Tuesday.

Other data showed that despite the unsettled nature of consumer confidence in recent months, it hasn't put people off applying for loans or new credit cards. Endi