Australia: Consumer Confidence lifts on record current finances – ANZ

Sandeep Kanihama FXStreet Contributor

Australia’s ANZ-Roy Morgan Australian Consumer Confidence gained 1.2% last week, pushing the index above its long-term average, notes the analysis team at ANZ.

Key Quotes

“Current finances rose by a strong 5.9%, taking this measure of sentiment to its highest level since the weekly survey began in 2008. In contrast, future financial conditions fell 3%, reversing the gains of the past two weeks but remaining above average.”

“Economic conditions were also mixed. Current economic conditions fell 1.4%, the fourth consecutive decline, while future economic conditions had a marginal gain of 0.2%. Both the indices are below average.”

“The ‘Time to buy a major household item’ sub-index gained 4%, after falling for three consecutive weeks. The four-week moving average for inflation expectations was stable at 3.9%. The weekly reading for inflation expectations jumped to 4.1%.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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