The ANZ-Roy Morgan consumer confidence index has dived 2.8% this week dropping to its lowest value since early October:
The key movements are as follows:
- Consumer confidence declined by 2.8% last week, dropping to its lowest value since early October. Among the major states, confidence was down in NSW, Victoria, South Australia and Western Australia, while it rose only slightly in Queensland.
- ‘Weekly inflation expectations’ increased 0.1ppt to 5.0% and the four-week moving average also rose 0.1ppt to 5.0%.
- Four out of the five confidence subindices declined. ‘Current financial conditions’ dropped 4.7% and ‘future financial conditions’ fell 3.0%.
- ‘Current economic conditions’ rose 0.4%, its third consecutive small gain. ‘Future economic conditions’ declined 3.2%.
- ‘Time to buy a major household item’ dropped 3.4%, after rising 8.3% over the past five weeks.
