Consumer confidence rose 0.5 points last week to 83.1 points. The four-week moving average rose 0.5 points to 83.2 points.
‘Weekly inflation expectations’ fell 0.2 percentage points to 4.6 per cent, while the four-week moving average fell to 0.1 percentage point to 4.8 per cent.
‘Current financial conditions’ (over the last year) declined 0.6 points, while ‘future financial conditions’ (next 12 months) rose 3.0 points.
‘Short-term economic confidence’ (next 12 months) rose 1.6 points and ‘medium-term economic confidence’ (next five years) declined 0.3 points.
The ‘time to buy a major household item’ subindex fell 1.4 points.
“Consumer Confidence has moved within a tight range over the past four weeks, with the series retaining most of the increases seen in late July and early August.” ANZ Economist, Madeline Dunk said.
“Households’ confidence in their future financial situation rose to a five-month high last week and is now back in ‘positive’ territory.”
“This is the only subindex currently sitting above 100 points. Inflation expectations also eased 0.2 percentage point to 4.6 per cent, its lowest reading since late 2021.”
“The shift in these indicators may be linked to last week’s monthly inflation data, which showed a fall in both headline and trimmed mean inflation. After accelerating earlier in 2024, inflation appears to be back on the path to target.”
