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The ANZ-Roy Morgan consumer confidence index has been released, with confidence rebounding by 0.2% after inflation expectations dropped to a one month low on falling global energy prices:
The key movements in the sub-indices were as follows:
- ‘Weekly inflation expectations’ softened 0.2ppt to 5.8%, its lowest since mid-June.
- The subindex level performance was mixed. ‘Economic conditions next year’ strengthened 4%, while ‘Economic conditions in the next five years’ recovered 3.3%.
- ‘Current financial conditions’ declined 2.0%, marking ten straight weeks of falls. ‘Future financial conditions’ edged up 0.1%.
- ‘Time to buy a major household item’ weakened for the third consecutive week, down 4%.
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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.
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