Australia's Consumer Confidence Weakens

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Australia's consumer confidence weakened for the second straight time during the week ended April 1, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Wednesday.

The consumer confidence index dropped 1.6 percent to 115.5 from 117.4 in the preceding week.

The details were largely negative, with sentiment around future financial conditions and the 'time to buy a household item' sub-index posting the sharpest declines.

"Confidence slipped further last week likely following the decline in global and domestic equities," ANZ's head of Australian Economics, David Plank, said.

"Markets remain spooked about a possible escalation between US and China in the trade space."