Australia: Confidence falls following the Budget – ANZ

Australia’s ANZ-Roy Morgan Australian Consumer Confidence fell by ailing 1.3% last week, despite the tax cuts set out in the Budget.

Key Quotes

“Consumer confidence is just above its long-run average.”

“Current finances were down 1.7%, while future finances gained by the same amount, thus having a neutral effect on the combined index.”

“Current economic conditions rose by 0.7%, building on the big jump of 8.1% in the previous reading. Future economic conditions were up by a modest 0.8%, though this was the fourth straight weekly gain.”