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ANZ-Roy Morgan Australian Consumer Confidence stabilising for now at 111.4
February 09 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 982 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend February 6/7, 2016.
ANZ-Roy Morgan Australian Consumer Confidence rose 0.2% this week to 111.4, breaking the declining trend in confidence seen over the previous four weeks. The recent weakness has left confidence below its long-run average levels (-1.2%), however, today’s result may suggest the concerns around financial market volatility have abated somewhat.
ANZ Co-Head of Australian Economics Felicity Emmett commented:
- Encouragingly, consumers’ views towards their current finances remain upbeat, with this sub-index rising 0.9% last week. This was offset by the sub-index on ‘finances in the next 12 months’, which fell 1.3% following a decline in the previous week.
- Consumers’ concerns over the economic outlook continue to weigh on confidence. Confidence in the economic outlook for the next 12 months fell 1.7% and confidence in the economic outlook in the next 5 years fell 0.5%.
- The sub-index on ‘time to buy a major household item’ bounced 2.8%, only partly retracing the large falls in recent weeks.
“ANZ-Roy Morgan Australian Consumer Confidence was broadly unchanged last week after four straight weeks of declines. International events have clearly played a part in the weakness in consumer confidence over recent weeks. As a small, open economy, Australia remains vulnerable to the fortunes of the global economy. The domestic economy, however, is currently not in bad shape, with the unemployment rate improving significantly over recent months. A solid rise of 1% in the ANZ measure of job ads in January suggests the near-term employment outlook remains positive, which should play some part in supporting consumer confidence.
"The question will be whether this translates to stronger spending. This is what the RBA is banking on – a return to above trend consumer spending. Last week’s December retail numbers were disappointing and suggest that household consumption growth remains moderate at best. Further improvements in the labour market and confidence are likely to be required to drive a stronger recovery in consumer spending.”
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.