Data collected last weekend (Saturday and Sunday), based on 1,013 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence fell by 0.4% to 113.2 in the week ending January 25. This modest decline follows a cumulative rise of 1.7% over the previous two weeks, leaving consumer confidence slightly above its long run average.
Negative news headlines around the AUD dipping below USD0.80 likely contributed to the decline. Confidence in the economic outlook over the year ahead – the sub-index most correlated with the AUD – fell 3.2%.
'Household finances compared to a year ago’ – the sub-index most correlated with household consumption – jumped 5.1%, more than erasing the decline over the previous two weeks. While this is a positive signal, weekly data is volatile and we will look for momentum to be sustained in coming weeks.
ANZ Chief Economist Warren Hogan commented:
“ANZ-Roy Morgan Consumer Confidence has been steady around its long-run average for around six months with surprisingly little volatility. It appears that the impetus from continuing asset price gains and lower petrol prices is being outweighed by concerns about job security, weak wages growth, a lower AUD (which reduces spending power on overseas goods and travel) and concerns about the Federal government budget. As such, we think further stimulus is required to boost ‘animal spirits’ in the consumer sector.”
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.