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The ANZ-Roy Morgan consumer confidence survey has rebounded for the third straight week, rising 1.8% last week and a cumulative 5.6% over the past three weeks:
Below are the key changes across the sub-indices:
- Consumer confidence rose 1.8%, its third straight weekly gain. Among the mainland states, confidence increased in Victoria, Queensland and WA, while it declined in NSW and SA.
- ‘Weekly inflation expectations’ dropped 0.1ppt to 6.2%, while its four-week moving average also fell 0.1ppt to 6.5%.
- The subindex results were mixed. ‘Current financial conditions’ jumped 9%, partially making up for the 12.3% net drop over the previous eight weeks. ‘Future financial conditions’ were up 2.8%.
- ‘Current economic conditions’ dropped by 0.3%. ‘Future economic conditions’ gained 0.3%, its third consecutive gain.
- ‘Time to buy a major household item’ fell 2% after a 9.2% jump the week before.
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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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