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Australia consumer confidence eases in April, consistent with good economic momentum

Consumer confidence in Australia eased during the month of April, although remaining consistent with good economic momentum, with Auckland recording the largest fall. However, inflation and house price expectations both lifted.

The ANZ-Roy Morgan Consumer Confidence Index eased from 125.2 to 121.7 in April. That is still above average and doesn’t look like anything more than monthly ping pong. It takes consumer confidence back to the levels seen in September last year, ANZ Research reported.

The Current and Future Conditions Indexes eased 3 and 4 points respectively. At 123.2 and 120.8, the levels for both indexes remain respectable.  Consumers still feel better off, though marginally less so. A net 9 percent feel better off financially compared with a year ago, down from a net 13 percent last month.

Net optimism towards the economy one year out eased from +21 to +14 and when assessing the five-year outlook, was marked lower from +22 to +15. However, respondents’ views towards their own financial situation in 12 months’ time lifted a touch to a net +33 percent.

Meanwhile, despite a slowing housing market, house price inflation expectations lifted again, weighing on first home buyer aspirations. The move from 4.6 percent to 5.2 percent is not a major surprise but the 18-24 year age group came in at 8.5 percent, which is the highest seen in this group since the series began.

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October 18 14:30 UTC Released

BRForeign Exchange Flows*

Actual

1.261 Bln USD

Forecast

Previous

0.980 Bln USD

October 18 13:00 UTC Released

RUReal Wages YY

Actual

2.6 %

Forecast

3.9 %

Previous

3.7 %

October 18 23:50 UTC 337337m

JPForeign Bond Investment

Actual

Forecast

Previous

89.2 Bln JPY

October 18 23:50 UTC 337337m

JPForeign Invest JP Stock

Actual

Forecast

Previous

1235.3 Bln JPY

October 18 23:50 UTC 337337m

JPExports YY*

Actual

Forecast

14.9 %

Previous

18.1 %

October 18 23:50 UTC 337337m

JPImports YY*

Actual

Forecast

15.0 %

Previous

15.2 %

October 18 23:50 UTC 337337m

JPTrade Balance Total Yen*

Actual

Forecast

559.8 Bln JPY

Previous

113.6 Bln JPY

October 19 00:00 UTC 347347m

KRBank of Korea Base Rate*

Actual

Forecast

Previous

1.25 %

October 19 00:00 UTC 347347m

ID7-Day Reverse Repo*

Actual

Forecast

4.25 %

Previous

4.25 %

October 19 00:00 UTC 347347m

IDDeposit Facility Rate*

Actual

Forecast

3.50 %

Previous

3.5 %

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