The ANZ-Roy Morgan Research (RMR) consumer confidence index fell marginally in the week ended 31 August, decreasing by 0.9 points (0.8%) to 112.6, taking it just below its long-run average reading of 113.2 (see next chart).
This week’s fall was driven by a 5.5% fall in household perceptions about their ‘financial situation compared to a year ago’
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The below chart plots the most recent Westpac-Melbourne Institute Consumer Sentiment index against the ANZ-RM Consumer Confidence index:
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