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The ANZ-Roy Morgan Research (RMR) consumer confidence index has been released for the week ended 23 March, which registered a 2.0% increase, retracing most of the weakness seen in late-February. It is now a touch above its long-term average, but well below the highs reached after last year’s Federal Election:
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The improvement in the week was broadly based, with all sub-indices increasing except for perceptions of ‘financial situation in the year ahead’ which was little changed.
Below tracks the ANZ-RM index against the monthly Westpac-Melbourne Institute consumer sentiment index, whose most recent reading for March registered a fall:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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