Source: ANZ statements
• Consumer confidence fell 1.2pts last week. The four-week moving average was down 0.5pts.
• ‘Weekly inflation expectations’ were unchanged at 4.9%, while the four-week moving average fell to 5.0%.
• ‘Current financial conditions’ dropped 1.5pts, while ‘future financial conditions’ declined 2.1pts.
• ‘Short term economic confidence’ (about the economic outlook over the next 12 months) gained 1.3pts. ‘Medium term economic confidence’ (about the economic outlook over the next five years) was up slightly by 0.1pts.
• The ‘time to buy a major household item’ subindex plunged 4.0pts.