Australia: Consumer Confidence consolidates at a low level – ANZ

Australia’s ANZ-Roy Morgan Australian Consumer Confidence gained 0.7% last week after losing 3.5% in the previous reading, notes the research team at ANZ.

Key Quotes

“Strength was relatively broadly based across the subindices, although the “time to buy a household item” index dropped a sharp 3.8% and is now at its lowest level in ten years.”

“Current financial conditions gained 1.9% and remain above the long run average, while future financial conditions gained 1.6%.”

“The economic conditions subindices also rose, with current economic conditions up 3.6% and future economic conditions up 1.0%. Both economic subindices remain well below their long run averages.”

“The four week moving average for inflation expectations remained stable at 4.1%.”