ANZ Roy Morgan weekly Consumer Sentiment for the week ended September 7, +0.6% to 113.3
- prior was 112.6
- The 4 week moving average is up 1.2% to 113.0
- Sub-index most closely correlated with consumer demand (household perceptions about their ‘financial situation compared to a year ago’ was up 2.9% in the last week. It is continuing top show momentum after rebounding in July and August from sharp falls in May and June)
ANZ comments:
- (household perceptions about their ‘financial situation compared to a year ago’ ) is a positive sign for household spending in Q3
- ANZ’s base case remains that consumer spending will grow moderately this year & improving next year
- “The labour market will be important for the outlook, so it is encouraging that the August ANZ job ads report yesterday showed that labour demand is gradually strengthening”
