ANZ-Roy Morgan Australian Consumer Confidence rebounded 1.2% from its multi-year low reading last week, its first gain in four weeks. The biggest gain in the sub-indices was the 5.3% jump in the ‘Time to buy a household item’, albeit from a ten-year low in the previous reading. The other sub-components were mixed.
Current finances fell 1.6%, while future financial conditions gained 4.2%.
Current economic conditions declined 4.1%, to its lowest point in four years. Future economic conditions gained 1%, though this comes after a cumulative loss of almost 10% over the prior two weeks.
The four-week moving average of inflation expectations was up 0.1ppt to 4.0% as the weekly reading jumped from 3.8% to 4.1%.