Australia: Consumer confidence rebounds - ANZ

Research Team at ANZ, notes that the Australian ANZ-Roy Morgan consumer confidence rose a solid 2.8% in the week ending 3 December and the headline index is now at its highest level in ten weeks.

Key Quotes

“The details were also positive.

• The strength in the headline index was broadly based, with the biggest improvement coming from a 4.4% jump in households’ view of future finances. Households’ views of their finances compared to a year ago also improved, but by a much more modest 0.2%.
• Households’ views of economic conditions over the next 12 months rose a strong 2.9%, while household’s view of the economic outlook in the next 5 years bounced a solid 2.2%.
• After three weeks of straight declines, household views on whether ‘now is a good time to buy a household item’ rebounded by 4.0% last week.
• The 4-week moving average of inflation expectations continued to edge higher and is now up to 4.1% from 4.0% last week.”