-
Consumer confidence increased 4.1 points last week to 87.5 points. The four-week moving average increased 0.6 points to 84.1 points.‘Weekly inflation expectations’ declined 0.1 percentage point to 4.5 per cent, while the four-week moving average eased 0.1 percentage point to 4.7 per cent. The financial conditions subindices both improved.‘Current financial conditions’ (over the last year) rose 6.4 points and ‘future financial conditions’ (next 12 months) increased 4.1 points.‘Short-term economic confidence’ (next 12 months) lifted 0.8 points and ‘medium-term economic confidence’ (next five years) rose 2.6 points.The ‘time to buy a major household item’ subindex increased 6.8 points.
"Consumer confidence increased 4.1 points last week to reach its highest level since January 2023," ANZ Economist, Madeline Dunk said.
"All subindices improved, with households’ confidence in their current and future financial conditions reaching a 90-week high.
"The ‘time-to-buy-a-major-household-item’ subindex also rose to its highest level since January 2023. The boost in confidence may be linked to last week’s stronger-than-expected labour market data which showed employment grew 64.,100 in September and the participation rate was at a record high.
"Inflation expectations continued trending downwards. The measure dropped 0.1 percentage points last week to 4.5 per cent, its lowest reading since late 2021. Reserve Bank of Australia Assistant Governor Sarah Hunter said last week the RBA was “not currently concerned [inflation] expectations could become de-anchored in the near-term”.
Media contact
Victoria Kanevsky
+61 433 253 619
anzcomau:newsroom/mediacentre/ANZ-Roy-Morgan-Consumer-Confidence
Consumer confidence: 90-week high
2024-10-22
/content/dam/anzcomau/images/business/australia-houses-homes-suburb_Regular.jpg