Analysts at TD Securities note that Australian consumer sentiment held up better than they expected, as it remained buoyant at 104.4.
Key Quotes
“Current conditions +1.2% to 104.9 while expectations slip a little by -0.7% (but was +4.7% prior) to be 104.1. Next retail sales report released Jan 11.”
“Also out, APRA ADI statistics confirm new interest-only loans ratio a record low 27% (was 40% when APRA imposed the 30% limit). Finally, “Households are spending a larger proportion of their expenditure on costs relating to housing and health and less on food and clothing” related to the first annual re-weighting of the CPI. Updated weights will be implemented with Dec qtr CPI, released 30 Jan.”
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