Govt says latest data show confidence

Acting Treasurer Mathias Cormann has cited better-than-expected retail trade figures and housing approval data as evidence that consumer confidence is returning to the economy.

Retail trade rose by 0.7 per cent - to $22.459 billion - in November, the fourth hefty rise in a row, figures from the Australian Bureau of Statistics showed.

The value of housing approvals was $7.82 billion, up by $1.45 billion for the month and up 22.2 per cent from a year earlier.

"These are all positive indications that consumers are growing more confident in the direction of the Australian economy," Senator Cormann said in a statement on Thursday.

But he warned the economy was growing below trend while unemployment was too high and trending up.