ANZ’s Head Of Australian Economics, David Plank, commented:
“Confidence fell slightly last week, partially retracing the previous week’s gain. Overall confidence remains above the long-run average. Importantly, consumers’ perception of the current financial situation rose a strong 3.5%. This builds on last week’s gain and takes confidence in the current financial situation to its highest level since early 2018. The continued strength of the labour market is most likely driving this improvement and appears to be more than offsetting the news of modest increases in floating mortgage rates.
"On the weak side, the ‘time to buy a household item’ subindex fell a sharp 4.0% last week to 127.8. This subindex has fallen quite sharply since late June and likely reflects an adjustment process by households in an environment of falling house prices and low wage growth.”
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The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
25% or 75%
10% or 90%
5% or 95%