ANZ’s Head of Australian Economics, David Plank, commented:
“Consumer confidence registered its third consecutive gain after the sharp fall recorded during the Wentworth by-election weekend. In fact, confidence has more than regained that fall and is at its highest level since late July.
"Last week’s RBA Statement on Monetary Policy was quite upbeat on the Australian economy. At the same time, the Bank’s message of no near-term hikes in the interest rate was reassuring for households. Sentiment might have received boosts from the recent easing in petrol prices and the rebound in equity markets.
"There is some important data this week that may impact household sentiment, not least Q3 wage data. We think this will be boosted by the rise in the minimum wage and the finalising of some enterprise agreements.”
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ANZ-Roy Morgan Australian Consumer Confidence continues recovering from the dive seen the weekend of the Wentworth by-election. This week’s 1.9% rise means confidence has regained almost two thirds of the drop.
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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%