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ANZ-Roy Morgan Consumer Confidence boosted by household finances

Data collected last weekend (Saturday and Sunday), based on 1,129 face-to-face interviews.

ANZ-Roy Morgan Consumer Confidence rose 1.1% to 113.8 in the week ending October 12 and continues to sit around its long run average.

The improvement last week was driven by perceptions of households’ financial situation compared to a year ago (+3.8%) and expectations over the next year (+3.3%). The level of the former sub-index, which is the most correlated with consumer demand, continues to point to a modest pick-up in household spending.

While perceptions of household finances improved, views around the medium-term economic outlook deteriorated. Expectations of economic conditions over the next five years (-3.7%) was the only sub-index to decline last week and remains around 8% below its average since 2001.

ANZ Chief Economist Warren Hogan commented:

“Concerns about the economic outlook continue to weigh on consumer confidence and are likely contributing to cautious consumer behaviour and the elevated household saving rate. Nonetheless, we expect that the ‘wealth effect’ from higher house prices still has further to run and will allow households to reduce their savings modestly. This will provide some offset to soft household income growth over coming quarters.”

ANZ-Roy Morgan Consumer Confidence Report - October 14, 2014 - 113.8

ANZ-Roy Morgan Consumer Confidence Report - October 14, 2014 - 113.8

ANZ-Roy Morgan Consumer Confidence - October 14, 2014 - 113.8

Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence Release.


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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.