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ANZ-Roy Morgan Consumer Confidence: Low Confidence Needs a Boost
March 31 2015
- Finding No.
Consumer Confidence Press Release
Data collected last weekend (Saturday and Sunday), based on 1,011 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence rose 0.8% to 112.3 last week, the third consecutive rise. While ANZ-Roy Morgan Consumer Confidence is now 2.3% off its February lows, it remains below its long run average.
ANZ Chief Economist Warren Hogan commented:
- Following declines in the previous week, the sub-index on household finances rebounded last week. Households continue to hold a more positive view of their own finances than the economic outlook. This is likely helped by low interest rates, low petrol prices and strongly rising house prices.
- Importantly, households’ view on the economic outlook continued to rise last week. The sub-index ‘economic conditions next year’ rose 1.0% following a rise in previous week. The sub-index ‘economic conditions next 5 years’ rose 3.1% for the third consecutive week. These indices are now 4.6% and 4.5% higher respectively since the February rate cut.
“The strength in the housing sector is helping consumers feel more positive about their finances. A further rate cut from the RBA in coming weeks should also help to support the housing market and in turn confidence. But given the fragility of consumer confidence, the upcoming Federal Budget in May will be a key test of household sentiment.”
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.