This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 961 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend October 29/30, 2016.
After a sharp fall in the previous week, consumer confidence edged 0.4% higher to 114.1 this week. The details were mixed.
ANZ Head of Australian Economics Felicity Emmett commented:
- Consumers’ views towards their future finances bounced a solid 4.3% last week – but that only partially offset the sharp drop the previous week. Meanwhile, views towards finances compared to a year ago declined for the fifth week in a row, down 1.1% last week.
- Consumers’ views toward the economy also fell. Households’ view on the economic conditions over the next 12 months dipped a sharp 3.2% while views towards economic conditions over the next 5 years fell 1.6%.
- Household views on whether ‘now is a good time to buy a household item’ rose 2.3%, unwinding the previous week’s decline.
- The four-week moving average of inflation expectations edged 0.1ppts lower to 4.1%. The Q3 inflation report released last week – which showed ongoing weakness in domestic inflationary pressures – likely contributed in pulling down inflation expectations.
“While ANZ-Roy Morgan Consumer Confidence remains well above its long-run average, the up-trend looks to have lost momentum, with the four-week moving average at its lowest level since mid-June.
"Most of the sub-indices have pull backed significantly over the past couple of weeks, although some moderation is not surprising, as it follows a strong run-up over the past few months.
"The recent decline in confidence may reflect some concerns over the global outlook, with the presidential election in the US dominating the global news flow. Last Friday’s announcement from the FBI of a new probe into Hillary Clinton’s email use drove renewed volatility in financial markets, which also likely weighed on household sentiment. With the election a week away, global uncertainty is likely to dominate domestic events in the very near term.”
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 October 24-30, 2016
Outgoing Solicitor-General Justin Gleeson refuses to answer more than 100 questions from a Liberal senator, arguing he considers them "an attack" and they imply a "deficiency" in the evidence he gave to a Senate committee.
Pell interviewed by Victoria Police in Rome over child abuse allegations
Paid parental leave changes unlikely to be implemented on January 1
FBI investigation into Clinton emails reignited by sexting probe
IS using 'tens of thousands' as human shields in Mosul: UN
A Trump Presidency 'could bring a range of economic disasters'
Bob Day may remain Senator if new investors 'revive' company
Female lawyers routinely subjected to sexual harassment in workplace
Inflation rises in September but remains below Reserve Bank target
An Australian Workers Union official says concerns were raised last year about safety and maintenance at the Gold Coast theme park where four people died yesterday.