The ANZ-Roy Morgan consumer confidence index has rebounded 1.1% after Victoria and South Australia lifted their lockdowns:
- Consumer confidence gained 1.1% last week as the lockdowns in Victoria and South Australia ended. Confidence dropped in Sydney with the extension of lockdown in the city, but this was not enough to offset gains elsewhere.
- All but one of the subindices registered a gain. ‘Current financial conditions’ rose 1.0%, while ‘future financial conditions’ increased by 2.3%.
- ‘Current economic conditions’ lost 4.7%, while ‘future economic conditions’ gained 0.5%.
- ‘Time to buy a major household item’ improved by 5.3%. ‘Weekly inflation expectations’ fell by 0.1ppt to 4.2%, though the four-week moving average rose 0.1ppt to 4.2%.
However, confidence remains well below the historical average:
