Australia: Marginal improvement in consumer confidence - ANZ

ANZ-Roy Morgan Consumer Confidence for the Australian economy was essentially unchanged last week, gaining just 0.1%, notes the analysis team at ANZ.

Key Quotes

“Within this stable headline result there was quite a bit of movement in the sub-indices. Those relating to personal financial conditions were stronger, while those looking at the economic outlook fell.”

“Current financial conditions rose by 4.7%, while future financial conditions gained 0.2%. Both financial condition sub-indices have been positive for two straight weeks.”

“Economic conditions were weak, with current economic conditions down 6.9% and future economic conditions falling 5%. Both the sub-indices are below their long-term averages.”

“The ‘Time to buy a major household item’ was up sharply, jumping by 6.1%. It has not been above its current level since July last year. The fourweek moving average for inflation expectations rose to 3.9%.”