The Deloitte Consumer Tracker: Q3 2014 - Confidence Hits Three-Year High

The latest Deloitte Consumer Tracker shows that consumer confidence rose for the third quarter in succession in Q3 2014, reaching a three-year high and taking another step closer to positive territory.

Consumer demand remains robust

Demand remains robust, with consumer spending up by 2.1 per cent in the first quarter of 2014. Consumer spending on essential items continues to decline this quarter, allowing consumers to switch more of their spending to discretionary categories. This quarter net spending on holidays moved into positive territory for the first time since the survey began in Q3 2011.

Strong job market boosts confidence

Fewer consumers suffered a reduction or loss of income in Q3 2014 than a year earlier, continuing the downward trend. This is another sign of less pressure in the labour market.