Australia: Consumer Confidence drops after two weeks of gains – ANZ

Australia’s ANZ-Roy Morgan Consumer Confidence fell 0.9% last week, primarily due to the 6.4% fall seen in the ‘Time to buy a major household item’ sub-index, according to analysts at ANZ.

Key Quotes

“Financial conditions were mixed with ‘current finances’ down by 1.5%, while ‘future financial conditions’ gained 3.7%.”

“Economic conditions were also mixed. ‘Current economic conditions’ rose 1.6%, while ‘future economic conditions’ were down 1.2%.”

“The four-week moving average of ‘inflation expectations’ was up 0.1ppt to 4.0%.”