Australians are hardly punching the air that the coronavirus vaccine has arrived to guide the nation out of the darkish days of 2020.
New confidence figures counsel shoppers have additionally ignored the most recent upbeat jobs numbers and a string of outcomes that time to a strengthening within the financial restoration from final yr’s recession.
The weekly ANZ-Roy Morgan shopper confidence index – a pointer to future family spending – fell 0.6 per cent, its third consecutive decline.
The arrogance gauge’s sub-indices proved a blended bag, with perceptions amongst respondents views on their present and future monetary situations declining.
The one shiny spot was views on basic financial situations within the subsequent 5 years, rising 1.6 per cent.
ANZ head of Australian economics David Plank mentioned the final fall within the index got here regardless of the easing of COVID-19 lockdown restrictions in Victoria.
He was additionally stunned that that the “time to purchase a serious family merchandise” part dropped by 3.9 per cent – its largest drop since August final yr – coming at a time when the housing market is strengthening.
“We’d count on the 2 to go hand-in-hand, so the relative softness of this side of sentiment could not endure,” Mr Plank mentioned releasing the report on Tuesday.
Nonetheless, Wednesday’s launch of key wage progress figures for the December quarter could give motive to be gloomy.
Economists count on these will present wages grew at a meagre 0.3 per cent within the quarter to a limp annual fee of 1.1 per cent.
The one upside to those Scrooge-like situations is that annual inflation is crawling alongside at 0.9 per cent.