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Consumer confidence: small rebound

Consumer confidence increased 2.0pts, while the four-week moving average was up 0.4pts.


Among the mainland states, confidence rose in NSW and Queensland, while it fell in Victoria, SA and WA.


‘Weekly inflation expectations’ fell 0.2ppt to 5.4%, while the four-week moving average remained at 5.5%.


‘Current financial conditions’ rose 1.3pts, while ‘future financial conditions’ dropped 3.8pts.


‘Current economic conditions’ were up3.7pts and ‘future economic conditions’ gained 1.6pts.


The ‘time to buy a major household item’ subindex jumped 7.1pts after a 4.5pts increase the week before.

ANZ Senior Economist, Adelaide Timbrell said: “The ANZ-Roy Morgan Australian Consumer Confidence index increased last week driven by a jump in the ‘time to buy a major household item’ subindex. The subindex climbed to its highest since the first week of February as buying sentiment remained upbeat over the week running into the Black Friday sales weekend.


“Confidence rebounded 3pts for those paying off their homes but remained significantly lower than the other housing cohorts. There was a small uptick in sentiment among outright homeowners and renters as well.”


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