Australia Westpac Consumer Confidence/sentiment for January falls by 1.7% to 103.3
- Prior was -4.8% to 105
- lowest level since July 2013
- 6.6% below the recent peak in September last year
- The Index remains comfortably in the zone where optimists outnumber pessimists
- All five components (seasonally adjusted) of the Index fell in January
From Westpac:
the January survey shows a strong seasonal upward bias because of the ‘holiday effect’ and seasonal adjustment is important to gauge the underlying strength of the Index. For example, over the last 5 years on a seasonally unadjusted basis the Index has risen by an average of 5% in January. The unadjusted lift in January 2014 was a comparatively modest 2.5% emphasising the softish nature of the result.
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The AUD market focus today is on the Q4 CPI. Previews here and here.
