Consumer confidence: trending upward

• Consumer confidence rose 0.1pts last week to 86.5pts. The four-week moving average increased 0.8pts to 86.0pts.

• ‘Weekly inflation expectations’ were unchanged at 4.6%, while the four-week moving average fell 0.1ppt to 4.6%.

• ‘Current financial conditions’ (over the last year) eased 1.7pts and ‘future financial conditions’ (next 12 months) rose 2.7pts.

• ‘Short-term economic confidence’ (next 12 months) rose 1.1pts, while ‘medium-term economic confidence’ (next five years) rose 0.8pts.

• The ‘time to buy a major household item’ subindex fell 2.0pts.

ANZ Economist, Madeline Dunk said: “ANZ-Roy Morgan Australian Consumer Confidence continues to slowly trend upwards. The series has risen 7.5ptssince early July, with the biggest gains in householdconfidence in current financial conditions and the short-term economic outlook. Boththese measures have lifted 10.3pts since early July. Inflation expectations continue to ease. While the weekly figure was stable last week following theQ3 inflation data, the four-week moving average fell to 4.6%. This is the lowest reading since September 2021.”

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