New Zealand data - ANZ-Roy Morgan Consumer Confidence
- unchanged in September at 85.4
ANZ with a bright point though:
- Living costs are rising, house prices are falling, and mortgage rates are going up.
- However, the big win for households is the still super-tight labour market, which is contributing to strong job security and solid wage growth.
The labour market win is similar in Australia, where consumer sentiment is also deeply pessimistic. Household spending is holding up though with the strong jobs market.
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As part of the survey is an assessment of consumer Inflation expectations:
- little changed at 5.1%, versus 5.0% last month
