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ANZ-Roy Morgan Consumer Confidence in the Danger Zone: Confidence Fading Ahead of Budget
April 14 2015
- Finding No.
Consumer Confidence Press Release
Data collected last weekend (Saturday and Sunday), based on 1,017 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence was broadly unchanged last week, rising just 0.1% to 109.8. This follows a 2.3% decline in the previous week which left confidence at eight month lows.
ANZ Chief Economist Warren Hogan commented:
- The small rise last week was driven by a modest gain in households’ view of their own finances and a bounce in the ‘time to buy a household item’ index.
- This was offset by deteriorating confidence around the economic outlook with the economic conditions index falling for the second consecutive week. The sub-index on economic conditions in the year ahead fell 4.0%, and in the next five years fell 3.4%. Theses indices remain well below their long run averages.
“Rising house prices and strong auction clearance rates are keeping consumers’ view of their own finances relatively optimistic. In comparison, views of economic conditions remain well below average. This is not surprising given the ramp-up of discussion of Australia’s fiscal challenges in the lead-up to the Commonwealth Budget next month. Given the apparent sensitivity of the Australian consumer to budget issues, it will be important to monitor consumer confidence closely over the weeks ahead. Our main concern for the economy would be another strongly adverse response to the budget as seen last year. This not only risks undermining retail spending but also business confidence more widely.”
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.