This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 974 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend March 4/5, 2017.
ANZ-Roy Morgan Australian Consumer Confidence fell this week to 113.9, down 4.4% and almost entirely reversing the previous week’s gain. The 4-week moving average now sits at its lowest level since December 2016.
ANZ’s Head of Australian Economics David Plank commented:
- The weakness in the headline index was broadly based, with the deterioration in households’ views towards their finances driving the losses. Households’ views of current finances fell a sharp 8.6% last week; while sentiment towards future finances also deteriorated, down a sizeable 6.2%.
- Households’ views around economic conditions were mixed. While sentiment towards the longer term outlook edged 0.4% lower, sentiment towards the 12 month outlook actually improved 1.2% last week.
- After three consecutive weeks of gains, the ‘good time to buy a household item’ sub-index fell 6.5% to its lowest level since early December 2016.
- The series on inflation expectations edged down last week, although the four-week moving was unchanged at 4.5%. Inflation expectations have been gradually rising over the past six months - up from a trough of 3.7% in September 2016 - which likely reflects higher petrol prices.
“Despite the solid Q4 GDP reading last week, confidence has failed to hold onto the previous week’s gains. While consumer sentiment remains above its long run average, the uptrend has clearly lost momentum in a period of unusually high volatility in survey responses.
"The ongoing weakness in wage growth has likely weighed on consumers’ perception of their finances – with the GDP report last week showing growth in wages remained lacklustre in Q4. Last week’s report from the OECD that rising house prices are a threat to the Australian economy may also have unnerved households.
"Looking forward, however, we believe that consumer confidence is likely to remain resilient, supported by solid economic fundamentals and an accommodative monetary policy stance.”
Click here to view the PDF of the latest 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 February 27 - March 5, 2017
Penalty rates fight moves to how quickly cuts are implemented
Can coal cuts and renewables make China a climate change 'leader'?
Fed chair signals March interest rate rise
Trump accuses Obama of 'wire-tapping' his office during election
'Are you living in the real world?': NAB boss grilled over financial planning arm
Prime Minister Malcolm Turnbull is using blunt language to describe the fight against the Islamic State group, declaring Australia is "destroying Daesh" in the Middle East "whether they have a bomb in their hand or are in the back office planning an attack".
Adelaide urged to conserve electricity as units at power station go offline