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Analysts at ANZ note that the Australia’s ANZ-Roy Morgan Consumer Confidence nosedived to 109.5, a fall of 4.6% from the previous week’s reading.

Key Quotes

“All the sub-indices were in the negative, with three components falling more than 5%. The decline has also resulted in the headline index and each sub-index closing below their long-run averages.”

“Current financial conditions fell by 2.9%, while future financial conditions took a bigger hit, falling 5.4%.”

“The economic conditions sub-indices were also in the negative, with current economic conditions falling a sharp 7.9% and future economic conditions declining by 5.4%.”