Australia data – ANZ Roy Morgan weekly consumer confidence 75.0 (prior 78.2)

<p>Weekly consumer sentiment survey shunts 3.5 point lower</p><ul><li>lowest since early August 2023</li><li>has now spent 39 straight weeks below the mark of 85 – equalling the longest streak at this level set in 1990-91</li></ul><p>ANZ say the drop on the week is due to:</p><ul><li>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.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.