Australia: Consumer Confidence lower on global news – ANZ

Sandeep Kanihama FXStreet Contributor

Australia’s ANZ-Roy Morgan Consumer Confidence fell 2.3% last week, closing below the long-term average, notes the research team at ANZ.

Key Quotes

“The fall was driven by weakness in economic conditions, with current falling 3.8% and future losing a massive 7.9%. Both the economic sub-indices are below their respective long-term average.”

“In contrast, the measures relating to personal finances rose modestly. Current finances were up by 0.2% for the week, while future finances gained 0.6%.”

“The ‘Time to buy a major household item’ index fell 1.4% - its third consecutive decline. The four-week moving average for inflation expectations fell by 0.1ppt to 3.9%. Weekly readings of inflation expectations have shown signs of weakness over the last few weeks.”

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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