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ANZ-Roy Morgan Australian Consumer Confidence virtually unchanged at 112.5

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 999 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend July 15/16, 2017.
ANZ-Roy Morgan Australian Consumer Confidence edged down 0.4% to 112.5 this week, following a 1.3% fall the previous week. The details were mixed. Consumers were quite optimistic about their financial conditions next year, but were less upbeat towards the current financial situation.

  • Households’ views around current financial conditions fell 1.8% last week, following two straight weekly rises. Views towards future conditions were more upbeat with the sub-index rising a solid 3.7%. Both sub-indexes remain close to their long term averages.

  • Last week’s events prompted no change in consumers’ views towards current economic conditions. However, views around future economic conditions fell 1.6%, following a 2.5% decline previously. Both sub-indexes remain under their long term averages.

  • Despite slipping 2.3% last week, the ‘time to buy a major household item’ sub-index remains well above its long term average.

  • Inflation expectations were unchanged at 4.3% on a four-week moving average basis.
ANZ’s Head of Australian Economics, David Plank, commented:

“In trend terms, confidence has remained stable around its long term average for the past 3 weeks. The recovery in confidence seen over June, likely due to the improvement in labour market conditions, appears to have ended. We expect confidence to tread water around the current level in the near term, barring any major developments.

"The employment report out on Thursday has the potential to move confidence. We expect the June employment report to show an above consensus increase in jobs, though we don’t expect it to be quite as strong as the past three months, given that we believe the catch up between official and survey based measures is largely complete.

"That said, some leading indicators such as capacity utilisation, point towards continued strong improvement in labour market conditions. If jobs growth continues at the pace seen in recent months, it has the potential not only to boost confidence but perhaps also challenge our view on the stable course for monetary policy in 2018.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - July 18, 2017 - 112.5
ANZ-Roy Morgan Australian Consumer Confidence Rating - July 18, 2017 - 112.5

ANZ-Roy Morgan Australian Consumer Confidence Rating - July 18, 2017

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 July 10-16, 2017

  • The Prime Minister's response to gay Liberal senator Dean Smith's confirmation he is preparing a same-sex marriage bill has prominent advocate Rodney Croome hopeful "we could see marriage equality as early as August

  • Australian soldiers accused of covering up killing of Afghan boy

  • 'Land, kill and leave': How Australian special forces helped lose the war in Afghanistan

  • US may impose sanctions on Chinese firms over ties to North Korea

  • Satellite images show North Korea may have more plutonium than first thought

  • “The best of the best" were trained to operate like "phantoms", but now their legacy in the minds of Afghans will be a brutal one.

  • 'We don't muck around': Turnbull tables post-Brexit free trade deal with UK

  • US warns of continued threat as Iraqi PM formally declares victory over IS

  • Donald Trump, Vladimir Putin finally come face to face at G20 summit in Hamburg