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The Government induced bear market rally – the sparking consumer confidence from stimulus money touches Australia
The concept is real. It is happening as we speak. In every part of the world, the Governments decided to take over the cosmetic makeover of the economy. The stimulus money is acting to stimulate a bear market rally all over the world. Today even Australia joined the bandwagon!
Australian consumer confidence jumped by 11 points in June the most in 22 years after a report showed the economy unexpectedly avoided a recession in the first quarter.
The sentiment index rose 12.7 percent from May to 100.1 points, according to a Westpac Banking Corp. and Melbourne Institute survey of 1,200 consumers conducted between June 1 and June 7. It’s the first time since January 2008 that the index was above 100 indicating optimists outnumber pessimists.
Australia joined China and India as one of the few economies that expanded last quarter. Business confidence climbed by the most in almost eight years in May after the government said it will spend A$22 billion ($18 billion) on roads, railways, and schools, another survey showed yesterday.
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