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ANZ-Roy Morgan Australian Consumer Confidence Retraces
June 10 2015
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,107 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend June 6/7, 2015.
ANZ-Roy Morgan Consumer Confidence fell 1.2% to 112.1 last week, further retracing some of the Budget bounce. While the index is now 0.6% below its long run average, it remains around 10% above levels seen a year ago.
ANZ Chief Economist Warren Hogan commented:
- The fall last week was broad-based. Households’ views of ‘economic conditions over the next five years’ fell 6.7% while ‘economic conditions over the next twelve months’ fell 2.4%. The economic conditions indices saw the largest boost following the release of the Budget, however much of the gains have now been reversed with the sub-index on economic conditions now only 2.2% above its pre-Budget levels.
- Households’ views of their own finances have now fallen to levels prior to the Budget and the May interest rate cut. The sub-index on ‘finances compared to a year ago’ fell 1.8% and ‘family finances in the next year’ fell 1.2% last week.
“ANZ-Roy Morgan Consumer Confidence fell last week to levels just below long-run average. It’s disappointing to see the boost that consumer confidence saw around the time of the Budget start to be unwound. As we have noted previously, the lift to confidence needs to be sustained to feed into stronger household spending. Last week’s Q1 GDP report showed that growth in consumer spending remains soft, with weak growth in household incomes weighing on spending. April retail sales were also disappointing. Ongoing soft growth in wages is likely to remain a constraint on spending, even with a lower saving rate. And if confidence proves unable to sustain the recent bounce, growth in consumer spending looks set to stay in the doldrums.”
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.