VoiceOver users please use the tab key when navigating expanded menus

Consumer Confidence: remains elevated pre-budget

ANZ-Roy Morgan Australian Consumer Confidence inched up another 0.3% to 119.6 last week – the highest in 13 weeks. The details were mixed, with a solid rise in ‘time to buy a household item’ offset by falls in three of the remaining subindices. 

 

Last week

(5-6 May)

Weekly

change, %

Four-week

average

Monthly average

since 1990

Inflation expectations
(four-week ma)

119.6

0.3%

118.3

113.0

4.5%

ANZ’S HEAD OF AUSTRALIAN ECONOMICS, DAVID PLANK, COMMENTED

 

“The recovery in confidence has now extended to four consecutive weeks, driven by a solid improvement in aggregate economic conditions. It is encouraging to see confidence recover in the weeks leading up to the Commonwealth Budget; expectations of personal tax cuts have likely played a part.

 

For the last five years, the average weekly confidence in the week before the Budget release has been 112.0, falling 1.2% on average in the week immediately after. Currently confidence sits well above that level at 119.6, supported by robust labour market performance, accommodative monetary policy and expectations of personal income tax cuts.”

 

Please see the attached document for further details.

Related Articles