From the ANZ-Roy Morgan monthly survey. A reading above 100 shows optimism, while below that indicates pessimism.
In the survey is the question on if it is a good time to buy a major household item. The response is used as a key retail indicator. It dropped 7 points to -35% in the February survey. This is the lowest level since the COVID lockdown in 2020.
ANZ remarks:
- "More and more households will roll over onto markedly higher mortgage rates as the year rolls on, creating challenges for the retail and hospitality sectors"
