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Consumer confidence steady

Consumer confidence remained unchanged. The four-week moving average was up 0.9pts.


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


‘Weekly inflation expectations’ were up 0.2ppt to 5.2%, and the four-week moving average rose from 5.1% to 5.2%.


Two of the five subindices increased. ‘Current financial conditions’ rose 3.2pts. ‘Future financial conditions’ fell 0.9pts but remained above the neutral 100 level.


‘Current economic conditions’ declined 2.0pts and ‘future economic conditions’ were down 0.9pts.


The ‘time to buy a major household item’ subindex rose 0.7pts.

ANZ Senior Economist, Adelaide Timbrell said: “ANZ-Roy Morgan Australian Consumer Confidence remained steady and is still running higher than anytime between February and December 2023.


“Announcements around cost-of-living relief in the coming days and weeks may impact financial confidence, while inflation data next week may provide some clarity on the future of interest rates and the economy. We expect the inflation data to support another RBA hold in February, which could buoy confidence among indebted homeowners.”


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