Analysts at ANZ notes that Australia’s ANZ-Roy Morgan Consumer Confidence index made a U-turn last week, falling 2.1% as all the subindices were in the negative, except future economic conditions.
Key Quotes
“After two weeks of strength, the financial conditions subindices faltered. Current finances fell 3.2%, while future finances declined 1.6%.”
“Economic conditions subindices were mixed, with current economic conditions declining 1.6%, while future economic conditions rose a marginal 0.3%.”
“The ‘Time to buy a household item’ continued with its see-saw pattern, falling 3.9% after a gain of 1.3% last week. The four-week moving average of inflation expectations (IE) remained stable at 4.0%, though the weekly reading saw an increase to back above 4%.”
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