ANZ-Roy Morgan Consumer confidence for the week ended August 24 has come in at a +0.9% to 113.5 (prior was 112.5)
Says ANZ:
- It’s a little above its long-run average 9since 2001)
- Confidence continues to recover from the setback following rise in unemployment rate
- Solid fundamentals such a low interest rates and rising house prices
- Improvement driven almost entirely by a 11.1% rise in household perceptions about their ‘financial situation compared to a year ago’ (this subindex is most closely correlated with consumer demand)
- Therefore an encouraging sign for consumer spending in coming months