After gaining 4.2% in the previous reading, ANZ-Roy Morgan consumer confidence fell 2.1% last week. All the subindices fell except the ‘time to buy a major household item’.
Financial conditions subindices were down significantly and have been volatile for the last few weeks. Current finances were down 4.7% while future finances lost 5.0%.
Current economic conditions fell 1.7%, while future economic conditions lost 1.1% after gaining 4.2% in the previous reading.
‘Time to buy a household item’ continued to recover after falling to a 10-year low in recent weeks, although it remains below its long term average.
Inflation expectations inched higher by 0.1 ppt to 4.1%.