Australia’s Treasurer Frydenberg hails strong consumer confidence

Australia’s Treasurer Josh Frydenberg expresses his exuberance following the releases of upbeat Westpac and NAB Business Survey.

Frydenberg tweeted out, “Consumer sentiment is up 6.2% in April, soaring to an 11 year high according to @Westpac.”

On Tuesday, he said: “According to @NAB, business conditions have risen to a record high in March, with all states & territories positive.”

Meanwhile, on the discouraging AstraZeneca Plc. covid vaccine reports, Frydenberg said that the setbacks in the vaccine rollout should not” derail momentum in our economic recovery”.

” With the successful suppression of the virus and substantial reopening of the economy both household and business confidence are now higher than before the pandemic,” he added.

Australia reported on Tuesday that a second person had been diagnosed with a blood clot after receiving the AstraZeneca vaccine but there had been no rise in inoculation cancellations, per Reuters.

Market reaction

more to come ....