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ANZ analysts note that the ANZ-Roy Morgan Consumer Confidence for the Australian economy declined by 1.1% last week, with the decline following the prior week’s 4% gain.

Key Quotes

“The performance of the sub-indices was mixed, with financial conditions up and the others down.”

“Current finances were up by 3.7% for the week, while future finances gained 1.3%.”

“In contrast, the economic conditions sub-indices were down; with current economic conditions falling 3.6% and future economic conditions losing 1.7%. The decline in these indices was not that disappointing when compared to the gains of 13.3% and 7% respectively in the previous reading.”

“The ‘Time to buy a major household item’ was down by 4.6%. The four week moving average for inflation expectations was up 0.1ppt to 4%.”