Consumer confidence: consumer sentiment consolidates

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

“Consumer sentiment fell last week despite solid reports on wages and employment data released last week and falling petrol prices. In our view, the fall can be largely attributed to consolidation after three consecutive upticks following the steep fall over the weekend of the Wentworth by-election. The consolidation leaves confidence well above its long-run average and a little above its level of a year ago. This is despite the fact house prices have been falling for more than a year on average for the country as a whole, albeit with considerable regional variation. With little domestic data this week, global news and petrol prices will dominate.”

Please see the attached document for further details.

Please see the attached document for further details.