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Last week’s stunning labour market data, which saw Australia’s unemployment and underemployment rates fall to pre-GFC lows, helped the ANZ-Roy Morgan consumer confidence index rebound 2.2%:
ANZ-Roy Morgan Aus Consumer Confidence rose 2.2% last week, over the neutral 100. The same week, #unemployment dropped to its lowest in more than 13 years. Ahead of Q4 2021 CPI, #inflation expectations rose 0.1ppt, matching a December high of 5%. #ausecon #ausbiz @DavidPlank12 pic.twitter.com/jCDTeO3Dqx
— ANZ_Research (@ANZ_Research) January 24, 2022
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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.