The ANZ-Roy Morgan Research (RMR) consumer confidence index has been released for the week ended 13 April, which fell for the third consecutive week (down 1.3 points) to be a touch below its long-term average (113.0) and well below the highs reached after last year’s Federal Election:
The fall in the week was driven by weakness in consumers’ perceptions of ‘financial situation in the year ahead’ and ‘… a year ago’, with the latter closely correlated with consumer spending. While this sub-index can be volatile, it is now around 5% lower than its average over the past 6 months.
Below tracks the ANZ-RM index against the monthly Westpac-Melbourne Institute consumer sentiment index:
At the moment, both indices are singing from the same hymn sheet, with consumer confidence mediocre.
