Australian Consumer Confidence Rises, Reaches 'Relatively Steady' State, ANZ Says

MT Newswires Live
Aug 11

Australian consumer confidence rose 0.3 points in the week of Aug. 3 to 9 to 75 points, reaching a relatively steady state, according to a Tuesday note from ANZ.

The four-week moving average eased 0.1 points to 74.1 points.

Weekly inflation expectations fell 0.2 percentage points to 5.7%, while the four-week moving average was unchanged at 5.7%.

Current financial conditions over the last year increased 0.2 points to 65.4, while financial conditions over the next 12 months declined 1.5 points to 82.4.

The decline in households' confidence in the 12-month outlook for their finances and the rise in inflation expectations may have been due to a pick-up in petrol prices, ANZ economist Madeline Dunk said.

Short-term economic confidence over the next 12 months was up 2.7 points to 69.5, while medium-term economic confidence over the next five years rose 2.1 points to 82.3.

The "time to buy a major household item" sub-index fell 1.9 points to 75.7, per the report.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10