Consumer confidence in Australia has seen a modest rise, increasing by 1.5 points to reach a total of 86.8 points last week. The four-week moving average remained unchanged at 85.0 points, indicating stability over a longer period.
Inflation expectations for the week decreased slightly by 0.1 percentage point to settle at 4.6%, with the four-week moving average holding steady at 4.8%. Changes were observed in financial conditions, where current conditions over the last year fell by 2.3 points, while future financial conditions looking ahead 12 months saw an increase of 2.9 points.
There's been a noticeable rise in short-term economic confidence, with an increase of 3.6 points over the next 12 months, and medium-term confidence, looking forward five years, rose by 5.6 points. However, the subindex measuring the ideal time to purchase major household items declined by 2.5 points.
ANZ Economist Sophia Angala commented, "ANZ-Roy Morgan Australian Consumer Confidence increased 1.5 points last week following the Reserve Bank of Australia (RBA)’s decision to keep the cash rate on hold at 4.10 per cent. The series is just 1.7 point higher than immediately before the RBA’s 25 basis points cut six weeks ago."
Angala further added, "The lack of material increase in recent weeks may reflect recent global trade uncertainty, which has likely offset some of the upward pressure on confidence from stronger domestic economic conditions. It should be noted that last week’s survey period did not capture the weekend (5–6 April) and mostly occurred before the latest US tariff announcements."