Data collected last weekend (Saturday and Sunday), based on 1,085 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence declined 1.9% to 111.6 in the week ending October 19. Consumer Confidence continues to show a surprising lack of volatility and has been broadly steady around its long-run average for ten consecutive weeks.
The deterioration last week was fairly broad-based. Perceptions of households’ ‘financial situation compared to a year ago’ (-4.6%), which is the subindex most correlated with consumer demand, saw the largest decline. Looking through the weekly moves, this subindex has been broadly steady in September and October, and continues to point to a modest pick-up in household spending (see Figure 4).
Expectations of economic conditions continue to languish below average levels (see Figure 3). Households’ perception of the economic outlook over the next year and next five years both fell 1% last week.
ANZ Chief Economist Warren Hogan commented:
“ANZ-Roy Morgan Consumer Confidence remains broadly stable with house price gains likely providing some offset to concerns related to recent sharemarket losses and volatility on global financial markets. Levels of confidence suggest that household spending is likely to grow moderately over 2014 and 2015. This argues for an extended period of monetary policy stability and we expect the RBA to leave the cash rate on hold until the middle of 2015.”
Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence Release.
Latest ANZ-Roy Morgan Consumer Confidence Releases
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.