Australia: Consumer confidence for June fell –1.8%/m - TDS

Australia’s consumer confidence for June fell –1.8%/m, down for the 3rd straight month, to the lowest level since Apr 2016 with expectations for the economy 5 years ahead sinking–8.3%, explains the research team at ANZ.

Key Quotes

“Overall it was a unilaterally downbeat report. Tomorrow brings about May employment report where TD is looking for a +20k increase in jobs (mkt +10k) and for the unemployment rate to remain at 5.7% (mkt 5.7%). The last two months’ outsized print has been blamed on sample rotations and seasonal quirks so we expect May to show a “normal” raw print with a seasonally adjusted increase.”