Australia: Consumer Confidence bounces back – ANZ
Australia’s ANZ-Roy Morgan Consumer Confidence gained 1% last week, recovering a bit more than half the loss seen in the prior survey, notes the research team at ANZ.
“The bounce was primarily due to strength in the economic conditions subindices, which is not surprising, given that these were the aspects of the survey that fell sharply in last week’s report.”
“Current economic conditions gained 6.1% after the fall of 12.9% in the previous reading, while the future economic conditions figure almost reversed its previous loss by gaining 8.6%.”
“Current finances declined by 5.5%, dropping to its lowest level since June, while future finances gained 0.6% for the third consecutive increase.”
“The four-week moving average of ‘inflation expectations’ was down by 0.1ppt to 3.9%.”