From Forexlive:
- ANZ Roy Morgan weekly Consumer Sentiment, for the week ended January 18 …113.6
- prior was 112
- Up 1.4% on the week
- Now around its around its long-run average
- ANZ commentary on the data:
- Says there is often a temporary seasonal uplift in confidence in January (note that this data is not seasonally adjusted)
- Lower petrol prices haven’t delivered as big of a bounce to confidence as expected
- “Indeed, ‘household finances compared to a year ago’ the subindex most correlated to household consumption, fell to a four-month low last week. This suggests that it’s unclear whether we will get a meaningful lift in consumption in the near-term”
I am increasingly underwhelmed by this weekly release. The Westpac survey is less noisy and a better guide in my view.
