"For the third year in a row, consumer confidence has begun the year on a flat/downbeat note compared to the pre-Christmas level," ANZ Head of Australian Economics David Plank said.
"Given the Brisbane lockdown and the widespread border closures, the effectively flat result for confidence might be seen as a reasonably good outcome. But confidence usually rises over the holiday period. Between 2009 and 2018, consumer confidence rose 3.3 per cent on average between the last survey of December and the first of January."
"In this context, the result for this survey should be viewed as soft. Interestingly, notwithstanding the short lockdown, confidence in Brisbane and rest of Queensland was up on the pre-Christmas week. On the other hand, confidence in New South Wales and Victoria declined, as borders closed."