ANZ Roy Morgan weekly consumer confidence
Comments from ANZ on the big drop today:
- Australians appear acutely aware of the threats posed to economic stability by both the Greek crisis and China's equity market collapse
- An almost 5% decline in confidence in a single week is unusual and should be treated seriously, especially as it reverses a rising trend that has been in place for the last two months
- "While most of the decline in confidence in the past week is likely the result of international factors, it nevertheless reveals the underlying fragility in Australian household perceptions of the economic environment. Ongoing weakness in wage growth and recent soft retail sales data highlight the cautious approach to financial matters on the part of most Australians at present"
