Australia: Consumer Confidence back below average – ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ notes that Australia’s ANZ-Roy Morgan Consumer Confidence index made a U-turn last week, falling 2.1% as all the subindices were in the negative, except future economic conditions.

Key Quotes

“After two weeks of strength, the financial conditions subindices faltered. Current finances fell 3.2%, while future finances declined 1.6%.”

“Economic conditions subindices were mixed, with current economic conditions declining 1.6%, while future economic conditions rose a marginal 0.3%.”

“The ‘Time to buy a household item’ continued with its see-saw pattern, falling 3.9% after a gain of 1.3% last week. The four-week moving average of inflation expectations (IE) remained stable at 4.0%, though the weekly reading saw an increase to back above 4%.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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