Overview
- The ANZ-Roy Morgan consumer confidence index rose to 101.5 in December from 98.4 in November, its highest since September 2021 and above the optimism threshold of 100.
- ANZ-Roy Morgan data showed a lift in discretionary card spending, and local coverage noted inflation expectations eased in December but remain above recent CPI inflation.
- An ANZ business survey reported confidence at the strongest level in three decades, with a net 73.6% expecting the economy to improve and 60.9% expecting their own firms to grow.
- ANZ Chief Economist Sharon Zollner said mortgage holders are more willing to spend as interest rates have cycled, with interest rates and the exchange rate well below earlier peaks.
- ANZ cautioned that tighter financial conditions or shifts in interest-rate expectations could slow the recovery, making upcoming policy signals a key influence on sentiment.