ANZ Roy Morgan weekly Consumer Sentiment for the week ended January 11

  • prior was 111.7

A low priority data point.

ANZ comments (via MNI):

  • The lack of momentum in confidence remains disappointing especially given lower petrol prices and the usual seasonal uplift in January (confidence is not seasonally adjusted)
  • “Subdued levels of confidence, combined with soft retail sales in November and mixed anecdotes about December sales, suggest that households may be saving rather than spending the real income boost from lower petrol prices”
  • Expects a turnaround in the labour market as the key to an improvement in confidence

–

Reminder: Australian December labour force data is due on Thursday (0030GMT Thursday)