ANZ-Roy Morgan Australian Consumer Confidence: Decline Extends

Alongside the release of the weekly ANZ-Roy Morgan Australian
Consumer Confidence index ANZ noted that "confidence continues to
deteriorate, with the fifth straight decline. Sentiment has dropped almost
10% from its high at the end of May. The rise in pandemic related deaths
in Victoria and new case numbers rising in Sydney seem to be sapping
confidence. The reductions in the Jobkeeper and Jobseeker payments
from the end of September may have also weighed, with 'Current
economic conditions' falling sharply and the improvement in 'Current
finances' stalling at a low level. Inflation expectations rose again, with the
four week moving average at its highest level since mid-May. This lift
comes just ahead of the Q2 CPI data, which is likely to show the biggest
ever fall in headline inflation."