Westpac-Roy Morgan consumers diverge

Wednesday, 15 October 2014

An interesting divergence has appeared between the Westpac consumer sentiment index and the Roy Morgan consumer confidence index:

The 3 month moving average doesn’t improve things:

I have no explanation and a similar spread was apparent in 2010/11. It may say something about how unusual is the consumer’s condition relative to history.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.