Weekly consumer sentiment survey shunts 3.5 point lower
- lowest since early August 2023
- has now spent 39 straight weeks below the mark of 85 – equalling the longest streak at this level set in 1990-91
ANZ say the drop on the week is due to:
- The ANZ-Roy Morgan Australian Consumer Confidence index declined last week after an uncomfortably high inflation print and expectations of a November rate hike by the RBA. The indices that capture confidence in ‘current’ conditions declined the most, including current finances, the short-term economic outlook and whether it is a good ‘time to buy a household item’. Among the housing cohorts, confidence fell across all groups.