Australia: Second consecutive fall in consumer confidence - ANZ

Sandeep Kanihama FXStreet Contributor

ANZ-Roy Morgan Consumer Confidence of Australian economy fell for a second week in a row, dropping by 2.0% last week, notes the research team at ANZ.

Key Quotes

“It remains above the long-term average, however. ’Time to buy a household item’ was the only ‘green shoot’, rising a solid 4.9%.”

“Current financial conditions fell by 2.7%, while sentiment toward future finances was down 2.2%. This weekly decline has resulted in the subindices closing below their long-term averages.”

“Current economic conditions dropped a significant 7.8% after rising for three consecutive weeks. It is still a touch above the long-run average. Future economic conditions fell by 2.8%, which resulted in the subindex falling below the long-term average.”

“The four-week moving average for inflation expectations fell by 0.2ppt to 3.8%, with the weekly reading down to a very low 3.6%.”

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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