Australia: Consumer confidence down a touch - ANZ

Dhwani Mehta FXStreet

Analysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on its Australian Consumer Confidence gauge released earlier this Tuesday.

Key Quotes:

“Confidence fell 0.6% last week, reversing a bit over half the prior week’s increase. This continues the recent sawtooth pattern. Confidence remains well below average.

In a repeat of last week’s pattern, there were largely oversetting moves within the sub-components of financial and economic conditions. ‘Current financial conditions’ dropped 3%, while ‘future financial conditions’ were up 3.8%. In a similar pattern, the 4.1% drop in ‘current economic conditions’ didn’t quite offset the 5.3% lift in ‘future economic conditions’.

‘Time to buy a major household item’ fell 5%, to its lowest level since mid-December. The four-week moving average of ‘inflation expectations’ was unchanged at 4.1%.”

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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