Australia: Consumer Confidence continued to recover – ANZ

Australia’s ANZ-Roy Morgan Consumer Confidence continued to recover while revisiting mid-December levels, gaining 0.9%, during the last week, notes the research team at the Australia and New Zealand Banking Group (ANZ).

Key quotes

The financial and economic sub-indices were mixed, while the ‘Time to buy a household item’ strengthened solidly.

Current finances gained 3.4% vis-a-vis weakness of 5.5% seen in the previous reading. In contrast, future finances declined 2.5%, reversing some of the 4.6% gain seen over the three previous surveys.

Current economic conditions gained 2.2%, while future economic conditions fell by 3%. These subindices were up 6.1% and 8.6%, respectively, in the previous reading.

‘Time to buy a major household item’ was up 4.7%, to its highest level since October. Four-week moving average of ‘inflation expectations’ was stable at 3.9%. However, the weekly reading was back above 4% after two weeks of being below.