Consumer confidence: steady

• Consumer confidence eased 0.1ptslast week to 83.4pts. The four-week moving average fell 0.2pts to 83.5pts.
• ‘Weekly inflation expectations’ declined 0.3ppt to 4.6%, while the four-week moving average was steady at 4.8%.
• ‘Current financial conditions’ (over the last year) decreased 2.6pts, while ‘future financial conditions’ (next 12 months) fell 3.2pts.
• ‘Short-term economic confidence’ (next 12 months) lifted 2.0pts and ‘medium-term economic confidence’ (next five years) rose by 1.2pts.
• The ‘time to buy a major household item’ subindex increased 1.7pts.

ANZ Economist, Madeline Dunk said: “ANZ-Roy Morgan Australian Consumer Confidence was steady last week, with households feeling more confident about the economic outlook but less confident about their financial situation. The four-week moving average of the short-term and medium-term economic confidence subindices rose to a six-month high. Across the housing cohorts, confidence amongst renters continues to move upwards, while confidence amongst mortgage-holders and outright homeowners has moved sideways in recent weeks. On a four-week moving average basis, confidence amongst renters is just 4.2pts below those who own their home outright.”

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