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ANZ-Roy Morgan Australian Consumer Confidence on the Slide to 105.3 before Turnbull deposes Abbott as Prime Minister

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 999 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend September 12/13, 2015.
ANZ-Roy Morgan Australian Consumer Confidence fell a further 1.3% in the week ending 13 September. This follows a sharp decline of 5.8% in the previous week and leaves confidence at its weakest level since July 2014.

  • Confidence in the economic outlook continues to be much weaker than views on household finances. The subindex on ‘economic conditions in the next five years’ fell 6.0% following a 5.2% fall in the previous week. This is the lowest level since the weekly survey began in October 2008 and it represents the second new post-GFC low in the past three months. The subindex on ‘economic conditions in the next year’ also fell, by 2.2%, reaching the lowest level since May 2014.

  • In contrast, consumers’ views towards their finances continue to be more stable. The subindex ‘finances compared to a year ago’ rose 1.6%, and is the only subindex to remain above its long run average. Consumers’ views towards their finances in the next twelve months also rose a modest 0.6%, providing some offset to the overall decline.
ANZ Chief Economist Warren Hogan commented:

“ANZ-Roy Morgan Australian Consumer Confidence has fallen a cumulative 7.1% in the past two weeks reflecting a confluence of negative events recently including global financial market volatility, patchy domestic economic data and signs that the housing sector is slowing. Expectations about Australia’s economic future are at a new seven year low. Australians are more pessimistic about the economic outlook than at the height of the GFC in October 2008.

"This represents a major challenge for the new Prime Minister and his leadership team. It will be a key indicator, in my view, of the Government’s ability to revive its economic credentials with the broader community. Next week’s consumer confidence reading will be an important first take on Australia’s view of the new leadership.

"Leadership aside, consumers are clearly vulnerable to bad news. International market volatility and the run of domestic data will shape consumer perceptions of the economy in the near term. While consumer confidence remains fragile and the economic outlook continues to weigh on consumers’ minds, a sustained recovery in retail sales will be challenging.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - September 15, 2015 - 105.3

ANZ-Roy Morgan Australian Consumer Confidence Rating - September 15, 2015 - 105.3

ANZ-Roy Morgan Australian Consumer Confidence Rating - September 15, 2015 - 105.3

Click to view the PDF of the latest 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.