This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,008 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend May 14/15, 2016.
ANZ-Roy Morgan Australian Consumer Confidence rose 1.1% to 115.1 this week, remaining above its long run average for the third consecutive week. We expect that the RBA’s cut to the official cash rate two weeks ago likely had a (delayed) positive impact on consumer confidence.
ANZ Head of Australian Economics Felicity Emmett commented:
- The improvement in confidence was driven by consumers’ views of the economic outlook. Views towards ‘economic conditions in the next 12 months’ bounced a sharp 6.1%, and views towards ‘the economy in the next 5 years’ also rose strongly, up 3.3%.
- In contrast, consumers’ views towards their own current finances fell 1.8% last week, and views towards future personal finances were down 0.6%. While these series have been weaker recently, they remain well above their long run averages.
- Finally, consumers’ views towards buying a household item declined 0.7%, partially reversing the bounce in the previous week.
“ANZ-Roy Morgan Australian Consumer Confidence rose this week in what we expect was a drawn-out reaction to the previous week’s interest rate cut from the RBA. Stronger equity markets were also likely helpful in lifting confidence.
"With news on the election battle quite mixed over the past week, we expect that there was little impact on sentiment. With such a long election campaign, however, it will be interesting to see how quickly voter fatigue sets in.
"With the economic outlook still quite uncertain, we expect that confidence will remain sensitive to developments in the domestic economic data, as well as the evolution of the political debate in the lead-up to the July election.”
Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence Release.
Latest ANZ-Roy Morgan Consumer Confidence Releases
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
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.
The week that was - May 9-15, 2016
RBA leaves possibility of further interest rate cuts open
Shorten, Turnbull distance themselves from the Greens amid talk of partnerships
Shorten defends Labor's asylum seeker stance amid division
Income tax debate shapes as election issue
Cory Bernardi has been kicked out of top spot on the Liberals' Senate ticket in South Australia, with Education Minister Simon Birmingham taking over the number one position
Opposition Leader Bill Shorten downplays internal tensions over asylum seeker policy after a Labor candidate questioned the party's stance, as Peter Dutton confirms asylum seekers who arrived on Cocos Island were returned to Sri Lanka last week
Australian banks report lowest profitability since 2009
Manus Island refugees no longer in detention: PNG
Qantas CEO Alan Joyce and Coca-Cola Amatil CEO Alison Watkins are among the business leaders who have declared their support for the Australian Government's proposal to progressively reduce the company tax rate
- Some 900 asylum seekers and refugees on Manus Island are no longer in detention, according to PNG authorities who say the men are free leave the centre during the day and can resettle in PNG if they want