ANZ-RM consumer confidence rises

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ScreenHunter_15 Mar. 18 16.24

By Leith van Onselen

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).

ScreenHunter_03 Aug. 26 10.20

This week’s rise was driven entirely by an 11.1% bounce 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:

ScreenHunter_04 Aug. 26 10.21

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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.