Data collected last weekend (Saturday and Sunday), based on 1,017 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence fell 1.0% to 112.6 in the week ending October 5. ANZ-Roy Morgan Consumer Confidence has now been broadly steady for eight consecutive weeks, sitting around its long run average.
The decline last week was driven by concerns about households’ financial situation. Both perceptions of current conditions compared to a year ago (-3.7%) and expectations over the next year (-2.4%) fell. The level of the former subindex, which is the most correlated with consumer demand, still points to a modest pick-up in household spending.
The main offset came from a rebound in households’ perceptions of economic conditions over the next five years (+3.8%), following the previous week’s decline (-6.3%). However, levels for this sub-index remain very low, and are 6.6% below average (since 2001).
ANZ Chief Economist Warren Hogan commented:
“Stable consumer confidence, combined with a lower AUD and a gradual strengthening in labour demand (as indicated by yesterday’s September ANZ job ads), should provide some support to retail sales in coming months. However, continuing consumer caution and soft income growth will remain headwinds to the household sector.
"For the RBA, relatively modest growth in consumer spending argues for an extended period of monetary policy stability. As such, we expect the RBA to leave the cash rate on hold until Q2 2015.”
Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence.
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
Related Research Reports
The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.