Australian weekly consumer sentiment survey remains very weak

Up 0.3% on the week to 80.5, well under the 100 neutral level. Pessimists firmly outnumber optimists.

ANZ note:

• Overall confidence is very weak.
• The series has been below neutral for over 2yrs.
• Inflation expectations rose 0.1pts to 5.0%

Earlier re Australia:

• Here's a forecast for two more Reserve Bank of Australia rate hikes still to come