Australia – ANZ Roy Morgan weekly Consumer Sentiment for the week ended November 9: 114.8 (prior was 114.6)

ANZ Roy Morgan weekly Consumer Sentiment for the week ended November 9, 114.8

• prior was 114.6

• Up a tiny 0.2% on the week.
• Up almost 3% over the last three weeks
• 4-week average rose to 113.9, up 13% from the lows earlier in 2014

ANZ’s chief economist Warren Hogan:

• “While it is encouraging that consumer confidence is now trending higher, the pace of improvement is slightly disappointing. Confidence in the economic outlook remains subdued (despite the rise last week) and is likely contributing to the unusual sensitivity of households to negative economic newsflow. This has caused three sizeable drops in confidence this year in response to job losses in the aviation and manufacturing industries, Federal budget cuts and a surge in the unemployment rate (later revised). A gradual improvement in the non-mining economy over coming quarters should help to build stronger and more sustainable momentum in confidence into 2015.”

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The big event for the market today in Australia is the NAB business confidence data due: Australia – NAB business confidence data due for release today, Due at 0030GMT.