ANZ-Roy Morgan Consumer Confidence Ticks Lower

Alongside the release of the latest ANZ-Roy Morgan Weekly Consumer Confidence Survey ANZ noted that "Confidence fell again last week, though only modestly. This survey does not capture the effect of the extended Melbourne lockdown, as the announcement came late in the weekend. Despite the decline seen since the onset of the second wave in Victoria, the severity of the fall has been less than in March (at least so far), suggesting Australians have become somewhat accustomed to the 'new normal'. Fiscal support is also critical, with sentiment toward personal financial conditions holding up much better than expectations about the economy as a whole. The plan to reduce this support may test this relative resilience."