Australia: Tax refunds boost Consumer Confidence – ANZ

ANZ-Roy Morgan Consumer Confidence was up by 1.9% last week, building on the 0.3% gain in the previous week for the Australian economy, notes the analysis team at ANZ.

Key Quotes

“All the subindices rose except ‘current finances’.”

“Current finances declined 0.9%, although this followed a 2.8% jump in the previous week. Future finances gained 1.2%.”

“Economic conditions subindices were more encouraging, with current economic conditions up by 5.8% and future economic conditions flat.”

“The ‘time to buy a major household item’ index gained 3.5% after losing 4.4% previously. The four-week moving average for inflation expectations was up 0.1ppt to 4.1%.”