Consumer confidence lifts slightly

Consumer confidence rose 1.8 points, and the four-week moving average increased 0.5 points.

Among the mainland states, confidence rose in New South Wales, Victoria, South Australia and Western Australia, while it fell in Queensland.

‘Weekly inflation expectations’ rose 0.4 percentage point to 5.7 per cent, while the four-week moving average was unchanged at 5.3 per cent.

‘Current financial conditions’ fell 0.8 points after a 5.6 points decline the week before. ‘Future financial conditions’ were up 0.9 points.

‘Current economic conditions’ increased 3.4 points more than offsetting the 3.2 points fall the week before.

‘Future economic conditions’ rose 2.7 points.

The ‘time to buy a major household item’ subindex gained 2.9 points.

“The ANZ-Roy Morgan Australian Consumer Confidence index rose last week but remained below 80,” ANZ Senior Economist Adelaide Timbrell said.

“The ‘time to buy a household item’ index was at its strongest since early June, perhaps due to elevated discounting in the retail


“Inflation expectations jumped to their highest level since June amid elevated petrol prices, ahead of what we think will be a strong CPI print (ANZ is expecting a 1.1 per cent rise, quarter on quarter).

“Confidence rose among outright homeowners (up 2.3 points) and those paying off their homes (up 3.6 points) but fell among the renters (down 1.7 points).”

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