Australian Consumer Confidence slumps nearly 3 points in a week

The weekly ANZ-Roy Morgan Australian Consumer Confidence survey came in at 85.5

• prior week was 88.4

A big drop from deeply pessimistic to even more deeply pessimistic! Under 100 is net pessimism.

ANZ remarks on the fall:

• ANZ-Roy Morgan Consumer Confidence fell 2.9pts after Q3 GDP and the end of Black Friday sales.
• All subindices fell, but the biggest drop was in households’ confidence in their financial conditions over the next 12 months

This article was written by Eamonn Sheridan at www.forexlive.com.