ANZ-Roy Morgan Consumer Confidence dropped 0.9pts to 92.1 this week – and is now at its lowest for nearly two months since May 9/10, 2020 (90.3). Consumer Confidence is now 25.5pts lower than a year ago on the comparable weekend of July 6/7, 2019 (117.6) and 2.9pts below the 2020 weekly average of 95.0.
Driving the fall this week were declines in confidence about the Australian economy into the future as well as a drop in those saying now is a ‘good time to buy’ household items.
The four-week moving average for ‘inflation expectations’ was stable at 3.2%.
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