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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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June 23 14:30 UTC Released

USECRI Weekly Annualized*

Actual

3.4 %

Forecast

Previous

3.7 %

June 23 14:30 UTC Released

USECRI Weekly Index*

Actual

143.7 %

Forecast

Previous

144.0 %

June 26 08:00 UTC 21142114m

GBIfo Expectations*

Actual

Forecast

Previous

106.5 k

June 26 08:00 UTC 21142114m

DEIfo Business Climate*

Actual

Forecast

114.4 bln BRL

Previous

114.6 bln BRL

June 26 08:00 UTC 21142114m

DEIfo Expectations*

Actual

Forecast

106.4 %

Previous

106.5 %

June 26 08:00 UTC 21142114m

DEIfo Current Conditions*

Actual

Forecast

123.3 mln

Previous

123.2 mln

June 26 08:30 UTC 21442144m

GBIfo Expectations*

Actual

Forecast

Previous

40.750 k

June 26 08:30 UTC 21442144m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

40.750 k

June 26 11:00 UTC 22942294m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

84.2 k

June 26 11:00 UTC 22942294m

RUFGV Consumer Conf*

Actual

Forecast

Previous

84.2 %

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