Consumer Confidence and Inflation Expectation Improve

Some excellent news in the first ANZ-Roy Morgan survey of the year.

💸 Consumer Confidence surged, up 4.9 points to 87.4. The highest since September last year.

💸 Inflation expectation also had a big drop, down 0.9% to sit at 5.0%.

💸 All the confidence sub-indexes improved, indicating a broadly positive view about the economy as we head into 2023.

These are all very good signs to start the year.

While confidence remains low, it looks to be heading in the right direction, which will support spending and help avoid a recession later this year.

While the fall in inflation expectations, if it continues, will place less upward pressure on wages and give the RBA more leeway to slow interest rate increases.