Australia: Modest decline in consumer confidence - ANZ

Australia’s ANZ-Roy Morgan Consumer Confidence was down 1.5% last week, following a decline of 1.1% the previous week, notes the research team at ANZ.

Key Quotes

“All of the confidence sub-indices were down, with the exception of a flat ‘time to buy’ reading.”

“Current finances declined by 2.7%, while future finances dropped by 1.5%. This compares to up-ticks of 3.7% and 1.3% respectively for the previous week.”

“The economic conditions sub-indices were also down; with current economic conditions falling 1% and future economic conditions dropping by 2.6%. This week’s moderation comes on the back of falls of 3.6% and 1.7% respectively last week.”

“The ‘Time to buy a major household item’ was unchanged. The four-week moving average for inflation expectations was flat at 4%.”