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ANZ-Roy Morgan Consumer Confidence Climbs Higher to 115.6
October 13 2015
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,001 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend October 10/11, 2015.
ANZ-Roy Morgan Australian Consumer Confidence climbed to 115.6 this week more than reversing the falls in the previous two weeks. This is the second highest reading in over a year, and leaves confidence 2.6% above its long run average.
ANZ Chief Economist Warren Hogan commented:
- The rise in confidence was broad-based. The sub-indices ‘economic conditions in the next five years’ (+10.0%) and ‘personal finances in the next 12 months’ (+6.6%) were up strongly, reaching the highest levels since early 2014.
- Consumers views towards whether ‘now is a good time to buy a major household item’ was up modestly (0.6%). Despite this week’s modest rise, the subindex has been falling in recent weeks, and is now 5% below its long run average. This rapid turnaround is consistent with signs of an easing in the housing market.
“ANZ-Roy Morgan Australian Consumer Confidence climbed to a 15 week high last week, confirming an uplift in momentum since the appointment of Prime Minister Malcolm Turnbull. The lift in confidence has coincided with a rise in equity markets and a stronger Australian dollar, suggesting confidence is in some part tied to financial market sentiment.
"The strong rise in views towards the economic outlook likely reflects faith in the Turnbull government. To sustain confidence at this level, however, the government needs to present a clear economic story to the country. This is necessary in the current economic environment, where there are numerous headwinds to sentiment and economic activity including soft wages growth, weak investment and an easing outlook for the housing sector.”
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.