Australia: Consumer Confidence drops to four year low – ANZ

ANZ analysts note that Australia’s Consumer Confidence index continues its losing streak, falling 2.8% last week to its lowest level in more than four years with weakness witnessed across the board.

Key Quotes

“Current financial conditions fell 0.1%, while future financial conditions plunged 4.4%. Current financial conditions are still above average, but future conditions are now below average.”

“Current economic conditions fell by 1.3% last week, to a four-year low, while future economic conditions declined 4.6% and are now at an all-time low.”

“The ‘Time to buy a household item’ was also at a multi-year low, falling 3.3%. The four-week moving average of inflation expectations was stable at 3.9%.”