Economic conditions a mixed bag.

Consumer confidence was broadly unchanged last week, edging down just 0.1%, while outlook for the economy were mixed. The ANZ-Roy Morgan survey of consumer confidence is still sitting below average with financial conditions sub-components both negative. Current financial conditions fell 1.4%, following the 6% rise in the previous week, while future financial conditions were down 3.3%.

Economic conditions were mixed, with current conditions down 0.1% and future conditions rising 3.6%. The ‘time to buy a household item’ rose 1%, the first rise after three consecutive falls.

ANZ senior economist, Felicity Emmett said despite a strong February labour market report, showing further modest jobs growth and a tick down in the unemployment rate, neither failed to lift sentiment.

“With persistent weakness in the housing market, and little good news from offshore, either on the economic or geopolitical front, households seem fairly downbeat. Whether this is a new normal or a temporary lull remains to be seen,” she said.