Australia: Consumer Confidence falters – ANZ

Australia’s ANZ-Roy Morgan Australian Consumer Confidence fell 1.0% last week and the fall was accentuated by a sharp decline of 7.1% seen in the ‘Time to buy a major household item’ sub-index, according to analysts at ANZ.

Key Quotes

“Current finances fell by 1.2%, the second decline in a row, while future finances gained 1.7%. Both the indices are well above their long term averages.”

“Current economic conditions gained 1.4% after five straight declines. Future economic conditions gained 1.8% for its third consecutive increase. Australians are still wary of the economic outlook considering both the subindices are below their long terms averages.”

“Inflation expectations were stable at 4% on the four-week moving average.”