Perth, Australia – February 28, 2025 – Parker Blackwood Advisers notes a significant increase in consumer confidence following the Reserve Bank of Australia’s (RBA) recent decision to reduce the official cash rate by 25 basis points to 4.1%. The ANZ-Roy Morgan Consumer Confidence Index reported a 4.7-point rise, reaching 89.8, the highest level since May 2022.
Leigh Jamieson, CEO of Parker Blackwood Advisers, commented on this development:
“The RBA’s rate cut has positively impacted consumer sentiment across Australia. This boost in confidence is a promising indicator for economic activity in the coming months.”
The uplift in confidence was observed nationwide, with Western Australia experiencing the most significant increase. This trend suggests a robust recovery in consumer sentiment, potentially leading to heightened economic engagement.
Jamieson further noted:
“Improved perceptions of personal financial situations are encouraging. As more Australians feel better off financially, we anticipate a positive ripple effect on spending and investment behaviors.”
The Westpac-Melbourne Institute Leading Index also reflected this positive trend, rising to a six-month annualized growth rate of 0.58% in January, up from 0.24% in December. This marks the strongest predicted economic growth since July 2022.
Parker Blackwood Advisers remains committed to monitoring these developments and providing clients with informed guidance to navigate the evolving economic landscape.
For further information or personalized financial advice, please contact Parker Blackwood Advisers at info@pb-investment.com or visit www.pb-investment.com.
