09.03.202123:44:00UTC+00Australia Consumer Confidence Improves In March - Westpac

Consumer confidence in Australia picked up steam in March, the latest survey from Westpac Bank showed on Wednesday - rising 2.6 percent to a score of 111.8.

That follows the 1.9 percent gain in February to 109.1.

Australia's success in containing COVID-19, the promise of vaccine rollouts bringing an end to the pandemic, and support from stimulatory government policies have all contributed to the sustained lift.

All components of the Index were higher in March. Confidence around the economic outlook led the gains with the 'economy, next 12 months' sub-index up 3.7 percent and the 'economy, next 5 years' sub-index up 2.3 percent.

Assessments of family finances also improved. The 'finances compared to a year ago' sub-index lifted by 2.8 percent and the 'finances, next 12 months' sub-index was up by 0.2 percent. The 'time to buy a major household item' sub-index rose by 3.7 percent.