ANZ Roy Morgan weekly Consumer Confidence, for the week ended April 12: 109.8 (not 109.9)
- The prior was the weakest reading in nearly 8 months, coming in at 109.7
An improvement on last week, by the smallest possible margin. Still near 8-month lows.
Comments from ANZ chief economist Warren Hogan:
"Given the apparent sensitivity of the Australian consumer to budget issues, it will be important to monitor consumer confidence closely over the weeks ahead. Our main concern for the economy would be another strongly adverse response to the budget as seen last year. This not only risks undermining retail spending but also business confidence more widely," Hogan said, as he described current confidence level as being in the "danger zone."
(Note - the Aussie budget is next month)
Honestly, though, what are consumers that worried about? Sure, its coming into winter, and that's gonna weigh on the mood. And, getting eaten/bitten by a crocodile is an ever present danger (or a spider/shark if no crocs are available). Apart from those though, chin up!