A drop in the unemployment rate has inspired cautious consumers to be a little more upbeat.

The jobless rate in February fell to 6.3 per cent, from January’s 12 year high of 6.4 per cent, leading to a half a percentage point rise to 110.8 points in the ANZ Roy Morgan weekly consumer confidence reading.

But that level is still below the survey’s 25 year average with consumers continuing to worry about the economic outlook, ANZ chief economist, Warren Hogan, said.

AAP