Consumer confidence: confidence highest since late July

ANZ-Roy Morgan Australian Consumer Confidence rose by 1.9% last week, bringing the index to its highest level since late July.

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ANZ’s Head of Australian Economics, David Plank, commented

“Confidence rose by 1.9% this week, pushing it to its highest level since late July and above the average for 2018 as a whole. This rise in confidence came despite ongoing strength in petrol prices as well as sharp weakness in equity markets. Regardless, the key takeaway is that consumer sentiment remains resilient despite a number of potentially negative influences. With the strength in the labour market providing clear support to confidence, this week’s employment numbers will be closely watched.”

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