This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,017 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend August 22/23, 2015.
ANZ-Roy Morgan Consumer Confidence fell slightly by 0.2% to 113.0 this week. This leaves confidence around its long run average and similar to levels seen a year ago (-0.4%).
ANZ Chief Economist Warren Hogan commented:
- The detail was a mixed bag. The fall in confidence was driven by views on ‘economic conditions in the next five years’ (down 1.2%), ‘finances in the next year’ (down 1.0%), and ‘finances compared to a year ago’ (down 0.5%). Offsetting this was increases in ‘economic conditions in the next year’ and ‘time to purchase a household item’.
- In comparison to a year ago, consumers’ confidence about economic conditions looks bleak. Views on ‘economic outlook for the next year’ are down 5.4% and views on ‘economic conditions in the next five years’ are down 2.6%. This is consistent with the equity market, which is down over 7% from a year ago (Figure 3).
“ANZ-Roy Morgan Australian Consumer Confidence appears to be consolidating around its long run average, however the latest reading was taken last weekend, before the most recent bout of market volatility. We will be watching consumer confidence closely to gauge the impact of global financial problems and the related equity market weakness on Australian consumers. Australia’s equity markets have fallen by more than 15% since the peak recorded in March, with more than half that decline happening in August.
"Consumer confidence readings around the long-run average level mask divergent trends in the underlying subcomponents. This reflects the fact that consumers are facing mixed signals. On the one hand, the property market remains buoyant and employment has been stronger than expected. On the other hand, the recent fall in equity markets and emerging concerns about growth in China and its impact on Australia are weighing on sentiment.
"With global equity markets still under pressure this week, and patchy growth in Australia, confidence and consumer spending appear to be vulnerable to further bad news.”
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.