Australian data – ANZ Roy Morgan weekly Consumer Sentiment for the week ended November 30, 113.9
- Overall modest rising trend
- Confidence in households’ finances compared to a year ago, down 1.9% (this is the sub-index most correlated with household spending) … but still points to a modest pick-up in household spending
- ‘Time to buy a household item’ -2.3%, lowest level in ten weeks
- Expectations of the economic outlook and household finances all improved … these sub-indices tend to be correlated with petrol prices and the sharemarket and lower petrol prices suggest upside risks to confidence in coming weeks, although this may be offset to some extent if weakness in the Australian sharemarket continues
