The nine-week run of consecutive gains in the ANZ-Roy Morgan Australian Consumer Confidence Index has finally ended, with confidence falling 1.3 per cent.
The weakness was mainly due to the ‘time to buy a major household item’ component, which declined by 5.7 per cent.
Financial conditions were mixed. ‘Current finances’ gained 1.1 per cent, while ‘future finances’ declined by 0.7 per cent.
Economic conditions were also mixed with ‘current economic conditions’ gaining 1.6 per cent, while ‘future economic conditions’ weakened by 1.6 per cent.
The four-week moving average for ‘inflation expectations’ declined by 0.1 percentage points to 3.2 per cent. This is a historic low.