World Economy

Rising Passenger Confidence

Rising Passenger ConfidenceRising Passenger Confidence

The number of passengers flying between Sydney and Melbourne in Australia rose 7.5% in July from the previous year, at a time when airfares are also rising, in a potential sign of rising business and consumer confidence, CommSec chief economist Craig James says, AFR reported. “If more business people are flying inter and intrastate it suggests companies are keen to chase new opportunities and prepared to spend money,” he said. “And if more people are flying to holiday destinations it could signify either lower fares, higher incomes [or] increased confidence.” Government data released last week showed the number of domestic passengers carried in July rose by 1.8% from a year earlier.