This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 942 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend June 24/25, 2017.
ANZ-Roy Morgan Australian Consumer Confidence edged 0.5% lower to 111.8 this week, down for the second week in a row. The sub-indicators continue to show volatility.
ANZ’s Senior Economist, Felicity Emmett, commented:
- After a sharp drop the previous week, households’ views around current financial conditions were largely unchanged (down 0.2%), while views towards future conditions fell 1.7%, following four consecutive weeks of gains.
- Households’ confidence in future economic conditions ticked 0.4% lower last week; while expectations of current economic conditions edged 2.4% higher, up for the second consecutive week.
- The ‘time to buy a major household item’ sub-index fell 1.8% last week but remains elevated in level terms.
- Inflation expectations remain unchanged at 4.2% on a four-week moving average basis.
"After trending down for nearly a year, ANZ-Roy Morgan Australian Consumer Confidence looks to be stabilising at a lower level. Last week’s move leaves it just below its long run average, where it has been hovering for the last couple of months.
"Persistently weak wage growth amidst high household debt and hits to household budgets from rising energy costs are all factors that are weighing on confidence. That said, concerns over these issues look to have been at least partly offset by the recent good news on the labour market and, in particular, the fall in the unemployment rate to a four-year low.
"The labour and housing markets will likely continue to be important influences on confidence. Any further improvement in the unemployment rate would be positive, although the recent softness in the housing market suggests that it will not provide significant support for confidence over the near term.”
Click 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 June 19-25, 2017
One man is confirmed dead after a van is driven into a crowd of worshippers near London's Finsbury Park Mosque, in what the London Mayor has labelled a "horrific terrorist attack on innocent people".
Melbourne's Lord Mayor says the council is "very close" to resolving issues with potentially dangerous cladding at 17 of the city's buildings, amid heightened safety concerns following London's tower fire disaster.
Setka apologises for 'thuggish' outburst
Politicians under fire for pay increases while penalty rates cut
Government gets Senate support for Gonski 2.0
Australian dies of rare mosquito-borne disease after visiting Thailand
Number of dead, missing in London fire rises to 79, police say
US student dies just days after being freed from North Korean prison