– Daily Commentary BY THE CURVE TEAM –
Daily Insights – Consumer Confidence Dips
12th of August, 2021
Consumer confidence
- Fell 4.4% in August but remains in optimistic territory at 104.1.
- The unemployment index rose 13.3% and Economic conditions for the next 12 months fell 8.3%.
- Those that are vaccinated or plan to be (76% of those surveyed) are 10 points more optimistic than those that are undecided or will not get vaccinated.
- The survey period included the Victorian and Queensland snap lockdowns.
- States under lockdown had falls in confidence, with Victoria leading the falls with a 10.8% decline.
- WA and SA had strong rises in confidence as the covid threat diminished over the short term.
US Inflation
- July headline inflation was 0.5%.
- Core inflation was 0.3%, slightly under the expected 0.4%.
- Yields on the US fell slightly as a result.
- Like the RBA, the Fed believe inflation will be transient. But talk of tapering policy is still prominent.
Josh Stewart
Associate - Money Markets
Curve Securities: Term Deposits | Bonds | Yield Curve Specialists