Source: ANZ statements
Consumer confidence continues to weaken, falling 1 per cent last week. All the subindices declined except for ‘current finances’.
Financial conditions were mixed, with ‘current finances’ gaining 2.3 per cent while ‘future finances’ declined by 2.5 per cent.
‘Current economic conditions’ declined for the fifth straight week, falling 1.5 per cent, while ‘future economic conditions’ fell 2.7 per cent.
‘Time to buy a household item’ saw a marginal decline, falling 0.1 per cent. ‘Inflation expectations’ gained 0.1 percentage point to 3.3 per cent (four-week moving average), its highest level since the end of May.