Australia: Consumer confidence retains positive momentum – ANZ

Australia’s ANZ-Roy Morgan Australian Consumer Confidence rose 0.8%, continuing the upward momentum of the previous week, notes the research team at ANZ.

Key Quotes

“The gain was led by a lift in sentiment surrounding economic conditions – both for the next year and the long term.”

“Current finances gained 1%, while future financial conditions fell 3.9% and, in contrast to current finances, are below average.”

“Current economic conditions revived from its lowest point in four years, gaining 3.9%. Future economic conditions also strengthened and gained 2.7%. Both remain well below average.”

“The four-week moving average of inflation expectations was down 0.1ppt to 3.9%, as the weekly reading softened to 3.9% from 4.1%.”