Off the wire
• 300-year-old Stradivarius violin to be played in Malta  • Australian authorities hunt for killer shark  • Roundup: Canadian stock market edges up as energy boosts  • Interrupted Malta-Sicily ferry route resumed  • EU energy consumption down to 1990s level: Eurostat  • News Analysis: Obama administration ups trade push as U.S. exports fall short of promise  • Baby, young girl survive Australian car crash that kills mother  • No military solution to Ukraine conflict: Russian lawmaker  • Australian man stabbed to death in Brisbane street  • News Analysis: BiH entity starts complex process to form gov't  
You are here: 　 Home

Australian consumer confidence shows 'disappointing' lack of momentum: report

Xinhua, February 10, 2015 Adjust font size:

Consumer confidence in Australia continues to show "a disappointing lack of momentum", a new report revealed on Tuesday.

The ANZ bank-Roy Morgan Australian Consumer Confidence index fell 0.6 percent to 111.7 in the last week, as the boom of interest rate cuts and lower fuel prices were offset by local economic worries, notably job security.

"Consumer confidence continues to show a disappointing lack of momentum," says ANZ chief economist Warren Hogan said in a statement.

"It appears that lower rates and higher house prices have contributed to households' assessment of their own household finances as relatively healthy."

"But at the same time, households are clearly concerned about the economic outlook and job security. While expectations about the future remain subdued, the risk is that households will choose to save a sizable part of the cash flow boost from lower rate cuts and petrol prices." Endi