Australia: Consumer Confidences moves back above its long-term average – ANZ

ANZ analysts note that Australia’s ANZ-Roy Morgan index made a strong recovery last week, rising 2.8% after the prior week’s 1.1% drop.

Key Quotes

“Financial conditions were positive, with current finances up 1.6%, while future finances rose for the fourth consecutive week in gaining 2.6%.”

“Economic conditions finally recovered with substantial gains compared to weak performance for the last few weeks. Current economic conditions gained 2.6%, while future finances were up significantly by 6.8%. The rise in future economic conditions is pleasing, as this particular sub-index has been in a downtrend for the last four weeks.”

“The ‘Time to buy a household item’ also strengthened, increasing 1.3%. The four-week moving average of inflation expectations declined by 0.1ppt to 4.0%.”