ANZ-Roy Morgan Australia Consumer Confidence data, a weekly survey.
ANZ comments:
- Consumer confidence fell slightly from the week before.
- Among those paying off their mortgage confidence dropped sharply (-4.4pts) to its lowest since early Apr 2020, to 11pts below the average for all housing cohorts.
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This data was out earlier. It tends not to be an AUD mover upon release. You'd think it'd be helpful in providing a guide to consumer spending, which would be useful given we have retail sales data due later. But its not unusual at all for retail to hold up even while sentiment plunges.
I posted earlier on what is expected for the January retail sales data:
- 1.5% vs. prior -3.9%
The big drop in December incorporated what appears to be some dire seasonal adjustment issues. the Australian Bureau of Statistics is still coming to grips with the increasing popularity of Black Friday sales and working to incorporate it into its adjustments.
