ANZ’s Head of Australian Economics, David Plank, commented:
“Confidence took a U-turn by falling 1.0% last week. The fall was somewhat surprising considering strong employment growth and reasonable wage data. The turn to a more negative outlook by one of the major Australian banks and news stories about a ban on Australian coal imports by Chinese port authorities that were then denied by authorities may have offset the positive economic data. Consumer confidence has effectively been in a holding pattern over the past three weeks, though the important thing to note is that it has remained above the long-run average.”
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ANZ-Roy Morgan Australian Consumer Confidence made a partial recovery last week, rising 1.0%. Worryingly, inflation expectations declined further.
Consumer confidence was unchanged in January, slightly above average.
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ANZ-Roy Morgan Australian Consumer Confidence dropped by 3.4% last week, with all the confidence subindices falling. The drop took the index to a three-month low.
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The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
25% or 75%
10% or 90%
5% or 95%