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From ANZ:
Confidence rebounds
- Consumer confidence jumped 3.1% last week, as the NSW government released its much anticipated “roadmap to freedom”, which sets out the plan for easing of restrictions once 70% of adults in the state have been fully vaccinated.
- Four out of the five subindices made significant gains. ‘Current financial conditions’ rose 2.0%, while ‘Future financial conditions’ were up 3.7%.
- ‘Current economic conditions’ improved 6.8%, while ‘Future economic conditions’ softened 0.6%.
- ‘Time to buy a major household item’ gained 4.2%. ‘Weekly inflation expectations’ dropped 0.2ppt but remained quite elevated at 4.5%. Its four-week moving also remained at 4.5%.
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ANZ Head of Australian Economics, David Plank, commented:
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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.