Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Australian weekly consumer confidence index rises 1.2 pct

Consumer sentiment in Australia rebounded last week. The headline ANZ-Roy Morgan Australian consumer confidence rebounded to 1.2 percent to 121.5 last week, after falling for four consecutive weeks. The details also came in positive with all subindices recording gains.

Consumers’ views towards current financial conditions rebounded 1.5 percent, partially rebounding from the 2.7 percent fall in the earlier week. Confidence around future conditions rose 0.5 percent on the back of a 1.5 percent rise in the prior week.

Consumers’ assessment of current economic conditions was widely flat, coming in at 0.2 percent, after a strong 2.7 percent rise previously. However, consumers came in more optimistic about future economic conditions, which rose 1.2 percent in the week. Both subindices came above their long-term averages. The ‘time to buy household item’ subindex rebounded 2.4 percent last week. Four week moving average inflation expectations dropped to 4.3 percent.

“We note that consumers’ views towards future financial conditions have been trending lower since late June, although they remain above their long-run average. Given that the household sector remains a key risk to the outlook we will be watching this subindex over coming weeks”, said ANZ senior economist, Felicity Emmett.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Australian Dollar was slightly bearish at -58.0231, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 59.1521. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.