Drive in consumer confidence revealed

Credit card details and other pieces of personal information have been publically exposed in Albury, it has been revealed.Discovered in a rubbish skip, such details were found in a binder containing details of more than 60 people who taken out mobile phon

The nation's propensity to spend money appears to be rising, it has been suggested.

An article in the Australian points towards the minutes of the Reserve Bank of Australia's board meeting on July 7th which indicated an increase in overall consumer confidence.

Meanwhile, the bank stated that retail sales over the course of May had "increased strongly", rising seven per cent from last September.

However, as the publication points out that a significant number of people have been using cash received as a part of the government's fiscal stimulus package to repay their credit card debts and fund major purchases it raises the question of whether the improvement in consumer confidence can last.

"Unemployment will keep creeping up well into 2010, which will make some more cautious," the newspaper states.

Those looking for an effective means of spending money may want to consider opting for a credit card which comes with an interest free period on purchases.

However, if there is a fall in consumer spending, it notes the Bank has the option of introducing a base rate cut.

Signs of a drive in expenditure were shown in recent Bank figures revealing credit card purchases rose 2.5 per cent over the course of May to account for a total of $16.896 billion.

Written by Joe Letts