The ANZ-Roy Morgan Research (RMR) consumer confidence index fell in the week ended 14 September, down 2.0 points (1.7%) to 111.3, taking it too the lowest level in five weeks and below its long-run average reading of 113.2 (see next chart).
This week’s fall was driven by “declines in ‘time to buy a major household item’ (-5.1%) and ‘financial situation compared to a year ago’ (-3.7%)”.
Advertisement
The below chart plots the most recent Westpac-Melbourne Institute Consumer Sentiment index against the ANZ-RM Consumer Confidence index:
As you can see, the mood amongst Australian consumers remains fairly lacklustre.
Advertisement
