• Consumer confidence rose 1.3 points last week to 89.3 points. The four-week moving average steadied at 88.2 points.
• 'Weekly inflation expectations' fell 0.2 point to 4.7 per cent, while the four-week moving average eased 0.1 point to 4.9%.
• 'Current financial conditions' (over the last year) lifted 2.2 points, while 'future financial conditions' (next 12 months) jumped 7.2 points.
• 'Short-term economic confidence' (next 12 months) decreased 2.0 points, and 'medium-term economic confidence' (next five years) rose 1.7 points.
• The 'time to buy a major household item' subindex declined 2.3 points.
"ANZ-Roy Morgan Australian Consumer Confidence lifted 1.3pts last week to 89.3pts, remaining below the early August peak. Strengthening confidence in household finances drove last week's rise, as the 12-month financial outlook rose to its highest level since late April and is the only subindex above the neutral 100 level (that is, there were more optimistic survey answers than pessimistic answers)," said ANZ Economist Sophia Angala.
"Economic confidence was steady this week despite Q2 GDP data last week pointing to a pick-up in economic momentum. We continue to expect income growth, tax cuts and RBA rate cuts to provide upward momentum to consumer confidence later this year," she said.
