Australian consumer confidence lifts with new PM in charge

A change in prime minister has helped boost Australian consumer confidence, a survey revealed on Tuesday.

The ANZ/Roy Morgan weekly consumer confidence index rose 8.7 percent in the week Malcolm Turnbull became Prime Minister after three weeks of falls in the index.

ANZ chief economist Warren Hogan said in a statement the change in prime minister was the likely the reason for the lift in confidence.

"The sharp jump in consumer confidence last week is a clear vote of confidence in the new prime minister, Malcolm Turnbull," he said.

But Hogan said the new PM would need to deliver on the economy to maintain the confidence.

"We believe the new prime minister's first 100 days in office will be essential to formulating a new narrative for the economy that underpins confidence in the economic outlook," he said.

"The challenge for the prime minister is to effectively communicate that changes to the way the economy operates are in the community's medium-term interest and necessary to raise incomes, create high-value jobs, and sustain investment."

Hogan said hopes for the new PM were high, as when the coalition won government in September 2013, with Tony Abbott as leader. Endi