Australia: Confidence shakes off post Budget blues – ANZ

Analysts at ANZ point out that for the Australian economy, the ANZ-Roy Morgan Australian Consumer Confidence has bounced back, rising 1.9% last week, thereby reaffirming their prognosis that the post Budget dip in consumer confidence was likely noise.

Key Quotes

“Current finances were up 2.1%, after three consecutive falls. Future financial conditions inched up marginally by 0.1%.”

“Current economic conditions rose by 4.2%, to the highest level for this year. Future economic conditions were up by a 1.5%.”

“The ‘time to buy a household item’ rose by 1.7%. Four-week moving average inflation expectations were stable at 4.0%. The weekly reading softened to 3.9%, however, reversing much of the prior week’s uptick.”