The World: Sydney - Consumer confidence improving, research data says

Consumer confidence in the economy appears to be steadying, with spending habits remaining stable during May, surveys from two major research bodies have found.

In studies by Reuters and Ipsos, 38 per cent of consumers in the Asia-Pacific region described the economic situation in their country as either "somewhat good" or "very good", marking a notable increase from the 32 per cent who felt that way in November last year.

The surveys also revealed that 74 per cent of Australians said they had cut household expenditure, compared with a global average of 73 per cent, with travel and entertainment the sectors most likely to be removed from consumers' budgets.