Australia: Consumer confidence up a touch – ANZ

Analysts at ANZ notes that Australia’s ANZ-Roy Morgan Consumer Confidence gained 0.3% last week as the financial and economic conditions subcomponents were positive, implying the detail was better than the headline suggested.

Key Quotes

“Current finances gained 2.8%, while future financial conditions were up 0.3%. Both the indices are comfortably above their respective long-term average.”

“The economic subindices were also positive, with current economic conditions gaining 3.4% and future economic conditions rising by 1%.”

‘The ‘Time to buy a major household item’ was the only subindex that fell, dropping 4.4%. The four-week moving average for inflation expectations was flat at 4.0%, though weekly inflation expectations rose for the third consecutive week.”