• Consumer confidence rose 0.4 of a point last week to 86.7 points. The four-week moving average ticked down 0.1 of a point to 87 points.
• 'Weekly inflation expectations' lifted 0.2 of a percentage point to 4.9 per cent, while the four-week moving average ticked up to 4.9 per cent.
• 'Current financial conditions' (over the last year) increased 1 point, while 'future financial conditions' (next 12 months) fell 2.8 points.
• 'Short-term economic confidence' (next 12 months) was up 0.8 of a point, and 'medium-term economic confidence' (next five years) gained 1 point.
• The 'time to buy a major household item' subindex jumped 2 points.
"ANZ-Roy Morgan Australian Consumer Confidence rose 0.4 of a point to 86.7 points. Looking globally, an array of trade deals reached by the US and other trading partners over the past week may have driven some increased optimism about the economy," said ANZ Economist Sophia Angala.
"Despite the weekly lift, upward momentum in consumer confidence has stalled. The four-week moving average of consumer confidence has moved within a tight range of 85-88 points since October 2024. Recent trade policy uncertainty and the RBA's surprise decision to hold the cash rate in July have kept confidence from rising, despite rising average incomes," Angala said.
"We expect the RBA to cut the cash rate in August and November. Along with further rises in incomes, this should support consumer confidence later in the year."
