Australian Weekly ANZ Roy Morgan Consumer Confidence survey remains very weak.
Eyes are on the CPI data due tomorrow from Australia:
In the weekly survey there is a question on consumers expect for inflation ahead:
- in this week’s survey inflation expectations jumped by 0.4% to 5.7%, the highest since June of this year
There is a persistent recency bias in this survey. Petrol (gasoline) prices surged helping expectations to move higher.
Some folks did think outside the square though.