Australia: Consumer Confidence lifts on record current finances – ANZ

Australia’s ANZ-Roy Morgan Australian Consumer Confidence gained 1.2% last week, pushing the index above its long-term average, notes the analysis team at ANZ.

Key Quotes

“Current finances rose by a strong 5.9%, taking this measure of sentiment to its highest level since the weekly survey began in 2008. In contrast, future financial conditions fell 3%, reversing the gains of the past two weeks but remaining above average.”

“Economic conditions were also mixed. Current economic conditions fell 1.4%, the fourth consecutive decline, while future economic conditions had a marginal gain of 0.2%. Both the indices are below average.”

“The ‘Time to buy a major household item’ sub-index gained 4%, after falling for three consecutive weeks. The four-week moving average for inflation expectations was stable at 3.9%. The weekly reading for inflation expectations jumped to 4.1%.”