Australia’s ANZ-Roy Morgan weekly consumer confidence index rises for sixth straight week on optimism over financial conditions

Australia’s ANZ-Roy Morgan consumer confidence index rose for the sixth straight week – up 0.7 percent to 121.6, the highest in 15 weeks. The details were somewhat mixed; while views towards financial conditions improved, households were less optimistic about economic conditions.

Households’ views towards current financial conditions rose 2.0 percent last week to 110.1, the highest in 12 weeks. Views towards future financial conditions were up a modest 0.6 percent, following a 1.4 percent rise the previous week. Both sub-indices remain above their long-term averages.

Sentiment around current economic conditions showed no change after a solid 2.4 percent increase in the previous week. Meanwhile, views towards future economic conditions eased 1.9 percent last week, partially unwinding the previous week’s 3.7 percent rise.

The 'time to buy a household item' sub-index rose 2.6 percent last week, nearly reversing the 2.7 percent fall previously. The weekly inflation expectations value edged up to 4.2 percent.

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