The ANZ-Roy Morgan consumer weekly consumer confidence survey has been released, with the index falling 0.5% to 82.7. This followed 5.6% of gains over three consecutive weeks:
Below are the key changes driving the result:
- Consumer confidence fell slightly by 0.5% after three consecutive weeks of gains. Among the mainland states, confidence increased in NSW and SA, while it declined in Victoria, Queensland and WA.
- ‘Weekly inflation expectations’ dropped 0.4ppt to 5.8%, while its four-week moving average fell 0.3ppt to 6.2%.
- The subindex results were mixed. ‘Current financial conditions’ plunged 6.2%, after a 9% jump the week before. ‘Future financial conditions’ dropped 1.9%, partly offsetting the 2.8% gain from the previous week.
- ‘Current economic conditions’ rebounded 4.9%, after a 2.8% fall over the previous two weeks. ‘Future economic conditions’ declined 2.9%, after three straight weeks of gains.
- ‘Time to buy a major household item’ jumped 5.2%.
