Following last week’s 30-year January low in consumer confidence, it’s not surprising to see the biggest rebound in 17 weeks according to ANZ and Roy Morgan’s weekly index.
We saw jumps of 7.7 per cent in Victoria, 8.8 per cent in WA, and 3.7 per cent in Queensland, while confidence dropped 2.4 per cent in NSW and 2.6 per cent in SA.
“Ahead of the Q4 2021 CPI data, inflation expectations recorded a 0.1ppt rise to match the recent high of 5 per cent reached in December,” ANZ Head of Australian Economics, David Plank says, noting that “the Australian Open tennis and great weather” might have added to Victoria’s rosy outlook this week.
