• Consumer confidence rose 1.4 points last week to 88.6 points. The four-week moving average increased 0.5 of a point to 87 points.
• 'Weekly inflation expectations' lifted 0.3 of a percentage point to 5 per cent, while the four-week moving average ticked up 0.1 of a percentage point to 4.8 per cent.
• 'Current financial conditions' (over the last year) jumped 6.3 points, while 'future financial conditions' (next 12 months) was up 0.7 points.
• 'Short-term economic confidence' (next 12 months) bounced 2.5 points, and 'medium-term economic confidence' (next five years) improved 3 points.
• The 'time to buy a major household item' subindex declined 6 points.
ANZ Economist Sophia Angala said: "ANZ-Roy Morgan Australian Consumer Confidence rose 1.4 points last week to 88.6 points. The 'Time to buy a major household item' was the only subindex to see a decline last week, as end-of-financial-year sales concluded at the beginning of the survey period.
"Confidence in both the financial and economic outlook strengthened, possibly supported by the prospect of an RBA rate cut at its July meeting. We expect 25bp rate cuts by the RBA each in July and August, given a soft consumer sector as suggested by recent momentum in retail sales and lingering US trade policy uncertainty."
