ANZ-Roy Morgan Consumer Confidence increases further to 118.6

• Current financial conditions rose by 1.2%, while future financial conditions were up 0.8%. These two indices have risen for three consecutive weeks. The measure of current financial conditions is its highest since early February.
• Current economic conditions rose 3.0% while future economic conditions were up 4.5%.
• The four-week moving average for inflation expectations was stable at 4.1%.

“Consumers are upbeat about both their personal outlook and the economy in general. The prospect of lower interest rates and what appears to be a major sentiment shift on the housing market are likely drivers of the positive outlook. The gain comes despite negative developments in the global economy. While the four-week moving average for inflation expectations was unchanged at 4.1%, the weekly reading dropped back under 4%. This is the fifth sub-4% reading since early March, an unprecedented run of low results for this survey."