Australian Consumer Confidence: Consolidation - ANZ
The Australia and New Zealand Banking Group (ANZ) analysts offer their afterthoughts on the local Australian Consumer Confidence data released early Wednesday.
“After two straight weekly gains, confidence declined 0.3% last week.
Overall financial conditions was flat, as a decline of 0.5% in current finances was balanced by a similar increase in future finances.
Current economic conditions fell 1.8%, while ‘future economic conditions’ gained 3.5% last week.
Time to buy a major household item was down 2.4% compared to a gain of 4.7% previously.
The four-week moving average of ‘inflation expectations was stable at 3.9%.”