This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,006 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend January 28/29, 2017.
After posting a 1.9% fall last week, ANZ-Roy Morgan Consumer Confidence rose 0.9% to 118.1 this week. The rise was primarily driven by a bounce in confidence in current financial and economic conditions.
ANZ Senior Economist Felicity Emmett commented:
- Households’ views towards their current finances rose a solid 3.4%, while views towards future finances were broadly flat (+0.2%). Both indicators remain well above their long run averages.
- Households’ views of economic conditions over the next 12 months jumped 5.4%, more than reversing the 2.0% fall last week, and bringing the index to its highest level in eight weeks. In contrast, households’ views of economic conditions over the next five years posted a 3.0% fall.
- The post-Christmas bounce in household views on whether ‘now is a good time to buy a household item’ continued to unwind, with this sub-index down 0.4% in the week, although still high by recent standards.
- Inflation expectations edged down last week, although the four week moving average rose to 4.5%, the highest value since December 2015.
“The resilience of consumer confidence amidst global political uncertainty is encouraging. In particular, sentiment around current financial and economic conditions has improved significantly since the sharp drop in the wake of the weak Q3 GDP report.
"Importantly, households’ views of overall financial conditions as well as the ‘time to buy a household item’ index remain above their long term trends, suggesting a positive outlook for consumer spending.
"Inflation expectations ticked down last week, following the weaker-than-expected Q4 CPI report. Higher petrol prices have likely pushed inflation expectations up over recent weeks, but with last week’s CPI report suggesting that inflation is unlikely to turnaround sharply any time soon, we expect some of the recent rise in inflation expectations may be unwound.”
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 23-29, 2017
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Morrison rejects fresh calls to curb negative gearing
As it happened: Serena Williams wins Australian Open final
Turnbull and Trump to speak about refugee resettlement deal
Trump and May meeting to test US-UK 'special relationship'
Trump moves ahead on Mexico border wall
Champion for stem cell use named Australian of the Year
Inflation figures give Reserve Bank scope to keep interest rates low
Mass escape after riot at youth correction facility in Malmsbury
Ken Wyatt sworn in as first Indigenous minister