Australia – ANZ Roy Morgan weekly Consumer Sentiment: 113.3 (prior was 112.6)

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”