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Australia’s ANZ Roy Morgan index was down 1.2% last week, its second straight weekly loss and ensuring confidence remains below its long-run average, notes the research team at ANZ.

Key Quotes

“The financial conditions subindices were positive. Current finances gained 0.2%, while future finances were up 0.7%. These small gains coming after large falls last week.”

“In contrast weakness in the economic conditions subindices continued for a second week. Current economic conditions fell 1%, while future economic conditions lost 1.7%.”

“The ‘Time to buy a household item’ measure fell 3.9% after two successive gains.”

“Inflation expectations (IE) remained stable at 4.1%.”