Australia - Weekly ANZ consumer confidence index: 112.0 (prior 113.1)

Author: Eamonn Sheridan | Category: News

A fall of another 1%-odd this week, down to 112.0

  • previous week was 113.1
  • Fell for the 3rd straight week
  • Now to its lowest since April of last year
  • Under its long-run average (for the first time since April last year)
ANZ reasoning on the fall again this week:
  • Downward trend since late January ... "disappointing given the broadly supportive economic conditions - the solid Q4 GDP report, an improving current account, strong housing market and above trend business conditions "
  • Weak jobs report last Thursday, concerns about labour market conditions
  • Rise in unemployment
  • Continued soft wage growth
Here is the last 5 years, via Bloomberg:

And, here's ANZ's graph of the same, with annotations: