Australia: Consumer Confidence falters – ANZ

ANZ-Roy Morgan Australian Consumer Confidence was down 1.1% last week, notes the research team at ANZ as the financial conditions sub-indices were the only indices supporting the index.

Key Quotes

“Current finances was up by a healthy 5%, reversing much of the recent falls, while future finances gained 0.4% for its third weekly rise.”

“The combined Economic conditions subindex registered its fourth weekly decline and remains a significant drag on overall sentiment. Current economic conditions fell 4% to its lowest level since early 2017, while future economic conditions lost 3.8%.”

“The ‘Time to buy a household item’ was down 3.3% last week compared to a gain of 5.1% previously.”

“The four-week average for inflation expectations was stable at 4.1%, though weekly reading fell below 4% after five weeks of stability.”