ANZ-Roy Morgan Consumer Confidence dropped 4.5pts to 93.0 this week – and is now at its lowest for over a month since May 23/24, 2020 (92.7). Consumer Confidence is now 25.9pts lower than a year ago on the comparable weekend of June 29/30, 2019 (118.9) and 2.1pts below the 2020 weekly average of 95.1.
There were small declines across all give questions but driving the fall was a decline in confidence about the Australian economy over the next year and next five years.
The four-week moving average for ‘inflation expectations’ was stable at 3.2%.
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