This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,050 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend January 14/15, 2017.
After jumping to a 15-week high last week, ANZ-Roy Morgan AUstralian Consumer Confidence was little changed this week, edging down 0.7% to 119.3. The decline was driven by some deterioration in households’ views about their finances. Providing some offset was an improvement in households’ views about the economic outlook and ‘time to buy a major household item'.
ANZ Senior Economist Jo Masters commented:
- Households’ views towards their finances compared to a year ago fell 4.8%, more than reversing the gain over the previous week. Meanwhile, after a sharp bounce the previous week, households’ views towards their future finances edged just 0.7% lower. Both indicators remain well above their long run averages.
- In contrast, while households’ views of economic conditions over the next 12 months were flat, views of the economic outlook in the next five years rose 0.6%.
- Household views on whether ‘now is a good time to buy a household item’ posted another solid gain, rising by 1.1% last week. The index – which tends to be a little higher in January – now sits at the highest level in almost five months.
- The four week moving average in inflation expectations edged higher for the second consecutive week, up to 4.3% last week from 4.0% in mid-December. Rising inflation expectations likely reflect the recent acceleration in petrol prices (Figure 8).
“Confidence consolidated last week after the previous week’s spike. At current levels, confidence looks quite robust and continues to suggest a positive outlook for spending. The recent rise in views on whether ‘now is a good time to buy a household item’ likely reflects ongoing strength in the housing market.
"It’s interesting to see the pickup in inflation expectations, although this most likely reflects the recent acceleration in petrol prices rather than broad-based inflationary pressures.
"The labour force report on Thursday has the potential to impact consumer confidence this week. We are expecting decent job growth in December, but confidence remains vulnerable to a weaker than expected report.”
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 January 9-15, 2017
Sussan Ley stands aside pending travel expenses investigation
Movie World visitors freed after roller coaster malfunction
The manager of a high-end jewellery store in Melbourne's inner south-east is injured in an armed robbery, in what is the second daylight attack on the premises in four months.
One Nation gains seat in Hung Parliament as LNP MP defects
Sussan Ley quits as Health Minister as PM flags expenses reform
Taxpayers charged $11k for Bishop to attend racing, rugby, polo
Base metal prices rise and supply issues loom
Tigerair Bali flights cancelled over 'Indonesian Government requirements'
Michael Chamberlain, whose daughter Azaria was snatched by a dingo in 1980, has died aged 72