Australian Consumer Confidence: Consolidation - ANZ

The Australia and New Zealand Banking Group (ANZ) analysts offer their afterthoughts on the local Australian Consumer Confidence data released early Wednesday.

Key Quotes:

“After two straight weekly gains, confidence declined 0.3% last week.

Overall financial conditions was flat, as a decline of 0.5% in current finances was balanced by a similar increase in future finances.

Current economic conditions fell 1.8%, while ‘future economic conditions’ gained 3.5% last week.

Time to buy a major household item was down 2.4% compared to a gain of 4.7% previously.

The four-week moving average of ‘inflation expectations was stable at 3.9%.”