Australian consumer confidence declined last week as households and businesses reeled from the impact of ex-Tropical Cyclone Alfred, according to a survey by ANZ Research and Roy Morgan Research released Tuesday.
The ANZ-Roy Morgan Consumer Confidence fell to 86.9 in the week of March 3 to 9 from 87.7 in the prior week. The decline was mainly due to the impact of the said disaster particularly on the communities of southern Queensland and northern New South Wales, said ANZ Economist Madeline Dunk.
Consumers' assessment of their financial situation compared with the past year improved, with the relevant sub-index up to 77.1 from 75.6. But the short-term outlook appeared weaker, with the year-ahead measure down to 102.9 from 104.4.
The five-year-ahead economic measure dropped to 90.8 from 94.3.
The "time to buy a major household item" sub-index advanced to 82.8 from 79.6.
Meanwhile, the two-year ahead inflation expectations indicator rose to 4.7% from 4.5%.
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