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Consumer confidence edges up: ANZ

AAP logoAAP 31/10/2016 Stuart Condie

Consumer confidence has recovered from last week's five-month low, but only slightly.

The ANZ-Roy Morgan Consumer Confidence Index edged 0.4 per cent higher in the week ending October 30, recovering some ground from the previous week's 3.6 per cent decline.

ANZ head of Australian economics Felicity Emmett said the four-week moving average was at its lowest level since mid-June, and that international events were likely weighing on consumers' minds.

"The recent decline in confidence may reflect some concerns over the global outlook, with the presidential election in the US dominating the global news flow," Ms Emmett said in a statement.

"With the election a week away, global uncertainty is likely to dominate domestic events in the very near term."

Consumers' views towards their current finances dropped 1.1 per cent, but they were more optimistic about their future with expectations of their finances over the next 12 months rising 4.3 per cent.

Households' view on the economy over the next 12 months dipped 3.2 per cent, and views towards economic conditions over the next five years fell 1.6 per cent.

The inflation expectations index edged down to 4.1 per cent from 4.2 per cent last week.

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