Australia: Consumer Confidence rebounds – ANZ

Australia’s ANZ-Roy Morgan Consumer Confidence jumped by a solid 4.2% last week, closing above its long term average, notes the research team at ANZ.

Key Quotes

“The gain was broad-based with all the subindices rising.”

“Current finances were up 6.9% while future finances gained 5.9%. Both financial conditions indices remain above their long term averages.”

“Current economic conditions rose by 3.5%, while future economic conditions jumped 5.7%. Despite the jump, both the subindices remain below their long term averages.”

“A 7.1% jump in ‘time to buy a major household item’ was encouraging after the drop to a 10 year low last week, although the index remains well below its long run average.”

“Inflation expectations were unchanged at 4.1%.”