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ANZ-Roy Morgan Australian Consumer Confidence Consolidates

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,028 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend August 29/30, 2015.
ANZ-Roy Morgan Consumer Confidence rose slightly by 0.3% this week to 113.3. This is the third consecutive week where confidence has remained above its long term average – a somewhat surprising result given volatility on the Australian stock market and global financial markets more generally.

  • Views on ‘economic conditions in the next five years’ were up 1.8% last week and are unchanged compared with a year ago. In contrast, the outlook for ‘economic conditions in the next year’ continues to weigh on consumer confidence. This subindex fell 4.9% last week, reaching the lowest level in eight weeks (when concerns around the Greece debt crisis and volatility in the Chinese stock market were elevated). This is the weakest subindex and is now 7% lower than a year ago.

  • Consumers’ views towards their finances were mixed. Views on ‘financial situation in the next year’ bounced 3.9%, whereas ‘finances compared to a year ago’ fell modestly last week (-0.7%) although levels remain elevated.
ANZ Chief Economist Warren Hogan commented:

“Overall, it is surprising how resilient consumer confidence appears to have been to the volatility seen in financial markets recently. However, views on the economy in the short term fell last week and are at very subdued levels, which suggests that at least on some level recent ructions in financial markets have had an impact on consumer sentiment.

"The impact on the Australian economy from recent international events and concerns about China’s growth outlook are hard to determine at this stage. Australia’s ability to withstand any hit to global activity is limited by the fact that the economy is already battling several headwinds: soft commodity prices, weak wages growth, and subdued non-mining business investment. In this environment consumer confidence could consolidate around current levels, but is unlikely to see a sustained rise from here.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - September 1, 2015 - 113.3
ANZ-Roy Morgan Australian Consumer Confidence Rating - September 1, 2015 - 113.3

ANZ-Roy Morgan Consumer Confidence - September 1, 2015 - 113.3

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.