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The ANZ-Roy Morgan Research (RMR) consumer confidence index has risen for the second consecutive week, increasing by 1.0 point (0.9%) to 113.5, taking it just above its long-run average reading of 113.2 (see next chart).
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This week’s rise was driven entirely by an 11.1% bounce in household perceptions about their ‘financial situation compared to a year ago’.
The below chart plots the most recent Westpac-Melbourne Institute Consumer Sentiment index against the ANZ-RM Consumer Confidence index:
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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.