This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,081 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend August 20/21, 2016.
ANZ-Roy Morgan Australian Consumer Confidence jumped a solid 3.6% to 121.8 (vs 117.6 previously) this week. This is the highest level since November 2013.
ANZ Senior Economist Jo Masters commented:
- The improvement in confidence was broadly-based. Households’ views of the 12 month economic outlook rose a strong 5.4%, while households’ views of the five year economic outlook improved by 4.8%. Both indices are now above their long-run averages for the first time since early 2013.
- Households’ confidence towards their own finances continued on an upward trend. Consumers’ views of their current finances ticked up 1.3%, while views of future finances rose 1.4%.
- Consumers’ views towards whether ‘now is a good time to buy a major household item’ bounced a solid 5.1%. This sub-index is closely correlated with auction clearance rates and may be capturing some of the renewed momentum in the housing market.
“ANZ-Roy Morgan Consumer Confidence has increased significantly over the past two weeks and it now sits at the highest level in almost three years. The four week moving average is now 4.6ppts above the long run average and confidence has trended steadily higher since early 2016. The lift in confidence reflects more upbeat views of consumers’ personal financial situations, as well as improving confidence about the economic outlook.
"Higher levels of confidence are consistent with another week of solid auction clearance rates – particularly in Sydney and Melbourne. Adding to the positive mix, equity markets remain buoyant and volatility in financial markets is low. While good news on the housing markets appear to have boosted confidence recently, the key for the broader economic outlook is whether higher confidence can translate into spending, particularly given high household debt.“
Gary Morgan, Executive Chairman, Roy Morgan Research, says:
“ANZ-Roy Morgan Consumer Confidence has increased to a near three year-high of 121.8 (up 4.2pts) this week as rising share-markets, and a rising Australian Dollar, combined with the Olympic Games in Brazil have given Australia a boost during a political ‘lull’ – Australia’s Parliament is yet to sit since the Federal Election which was held nearly two months ago.
“The biggest drivers of this week’s increase in Consumer Confidence were the economic indicators relating to the Australian economy. Economic conditions in Australia over the next 12 months is at +10 and economic conditions in Australia over the next five years is at +17 – the highest ratings for both these indicators since November 2013. The Australian All Ordinaries (today at 5,553.80) is near its highest levels for over a year and the Australian Dollar has increased steadily since hitting a low of 71.8 US cents in late May to now be clearly above 76 US cents. The indicators are suggesting Australians believe the worst impacts of the end of the mining boom may now be behind us.”
Click here 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.
The week that was August 15-21, 2016
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Fan appears to throw banana at Indigenous AFL star Eddie Betts
Government considering a banking tribunal: Turnbull
Naked Trump statues erected in sites around US
The Jamaican 4x100m men's relay team victory delivers Usain Bolt an unprecedented triple-triple sweep of Olympic gold medals.
A New South Wales woman and a British man are detained by police in Bali for questioning over the death of a local policeman.
Moody's affirms Australia's AAA credit rating
Vietnamese authorities have cancelled 50th anniversary commemoration event at the Long Tan cross site, the Department of Foreign Affairs and Trade says
Joyce slams delay of financial lifelines for struggling dairy farmers
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