Consumer confidence in the ACT has skyrocketed during the quarter, taking it to the highest level in the nation, according to the Sensis® Consumer Report released today.

The report, which interviewed 1,500 Australians nationwide during May, provides a quarterly analysis of the issues affecting the nation.

Report author Ms Christena Singh said the consumer confidence indicator almost doubled in the ACT during the quarter, to reach 63 per cent.

Overall, more than seven in 10 people in the ACT are confident about their financial prospects over the next 12 months, while less than one in ten is worried.

“We have not seen consumer confidence this strong since February 2007, when the indicator was at 64 per cent.

“However, ACT’s consumer confidence level is in complete contrast to the mood of business owners, with recent data showing business confidence in the ACT remains weak,” Ms Singh said.

Employment is the key driver of consumer confidence in the ACT at this current time.

“About nine in ten people in the ACT said they were confident because they had a secure job, were employed or had a well-paid job.”

The perception that the government is not doing a good job is the key reason people in the ACT are worried, contrasting with the national view, where people are worried because they are not working.

“In fact, residents of the ACT appear to have been the least impacted by the economic downturn.

“Less than three in 10 people in the ACT said they had been personally impacted by the current economic situation,” she noted.

Of those impacted, the major implications have been:

• A reduction in business;
• A decrease in income;
• A reduction in share price value;
• A decline in superannuation, and
• An increase in stress levels.

“It is interesting to note that while Canberrians are increasingly optimistic about their financial prospects, they still believe the economy is contracting,” she explained.

Almost seven out of 10 people in the ACT believe the economy is currently slowing, while less than one in 10 feels it is growing.

Ms Singh noted that the environment (7.02),and not economic issues, was the overall most pressing concern for people in the ACT.

“In fact, concern about the environment in the ACT is well above the national average,” she emphasised.

The state of the economy (6.93), followed by the health system (6.83) and the drought (6.71) are our next major concerns.

In line with heightened concerns about the environment, people in the ACT are most willing to pay more for energy costs.

Sixty-seven per cent of people in the ACT said they were willing to pay more for energy costs under the Federal Government’s proposed Carbon Pollution Reduction Scheme, compared with 50 per cent nationally.

On average, Canberrians are prepared to pay $195 per year more for energy costs compared with $149 per year nationally.

About Sensis

Sensis is Telstra's advertising business and Australia's leading directories information resource, helping Australians find, buy and sell. Sensis delivers innovative and integrated local search and digital marketing solutions via print, online, voice and mobile channels to connect Australians 24 hours a day, seven days a week. Sensis' powerful, multi-channel portfolio provides an unparalleled local information source incorporating the White Pages® and Yellow Pages® directories; the MediaSmart digital advertising business; the Whereis® digital mapping business; the Citysearch® entertainment and lifestyle website; the sensis.com.au search engine; the 1234 operator-assisted, premium voice information service; and the accommodation website gostay.com.au. Sensis is also a partner in some of China's most popular websites including real estate and home furnishings website, SouFun.com; auto websites Autohome.com and Che168.com; and digital devices websites IT168.com and PCPop.com.cn.