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ANZ-Roy Morgan Australian Consumer Confidence increases to 116.3 to start 2016
January 05 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 968 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend January 2/3, 2016.
ANZ-Roy Morgan Consumer Confidence rose 0.8% to 116.3 on the first weekend of 2016 (January 2/3, 2016). This reverses the fall seen in the last survey conducted in mid-December, leaving confidence above its long run average (+3.2%).
ANZ Chief Economist Warren Hogan commented:
- Consumers’ views towards their current finances rose a solid 6.4% last week, leaving the sub-index at its strongest level in the history of the weekly survey (started Oct-08). This was somewhat offset by consumers’ views towards their financial situation in the next 12 months, which fell 1.4%.
- The sub-indices on economics conditions also fell 1.8% last week.
“ANZ-Roy Morgan Australian Consumer confidence has increased a little since our last survey in mid-December to be back near its multi-year high point. Australian consumer confidence remains in a gradual uptrend, evident since the change of political leadership at the federal level in September last year and is starting 2016 a few percentage points above its long-run average.
"While consumers are generally optimistic in January due to the holiday season, it is a good sign for the economy that consumers are particularly upbeat about their current financial situation. The 6.4% rise in the sub-index asking consumers about their current financial position is a new post-GFC high. This index is a reasonable indicator of consumer spending suggesting a strong Christmas and holiday spending period is underway. Stronger employment conditions and the falling petrol price appear to be the major factors driving consumer optimism.
"A note of caution can be read into the indexes looking to the future. These fell and mostly remain below their long-term average levels. Next week’s ANZ job ads will provide further guidance on current employment conditions and the likely direction of consumer confidence over the remainder of the summer.”
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.