This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,023 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend August 26/27, 2017.
ANZ-Roy Morgan Australian Consumer Confidence rose 3.9% to 113.5 this week, after three straight weekly falls. Sentiment rose across the board, with views towards personal finances showing a particularly solid improvement.
ANZ’s Head of Australian Economics, David Plank, commented:
- Households’ views towards current financial conditions bounced 4.7% last week, more than reversing the 4.1% fall over the previous two weeks, and bringing the index to an 11-week high. Similarly, sentiment around future financial conditions rose a solid 6.4%, following a 5.3% decline in the previous week. While sentiment towards current financial conditions remains elevated in level terms, views towards future financial conditions remain below the long term average.
- Consumers’ views towards current and future economic conditions rose 5.6% and 2.2% respectively last week. Despite these gains views toward both current and future economic conditions are well below long run averages.
- Inflation expectations remained at 4.5% on a four-week moving average basis. Inflation expectations have increased from their low point in July, perhaps motivated by higher energy costs.
“While last week’s improvement in confidence is encouraging, volatility in weekly responses makes it difficult to ascertain the underlying momentum. Broadly, confidence has slipped in August, weighed down by concerns around disappointing wage growth and higher energy costs. Views towards economic conditions have fallen significantly and appear to be returning to levels seen in May and June. In contrast, consumers remain relatively optimistic about their personal finances – at least in the near term.
"In our view, despite a strong labour market and moderate economic activity, any improvement in confidence is likely to remain capped until households experience a material acceleration in wage growth, which seems unlikely anytime soon.”
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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 August 21-27, 2017
North Korea attacks Australia's decision to participate in joint military exercises with the United States and South Korea, describing it as a "suicidal act".
Spanish police shoot dead an Islamist militant who killed 13 people with a van in Barcelona last week, ending a five-day manhunt for the perpetrator of Spain's deadliest attack in over a decade.
Hurricane Harvey threatens US with most powerful storm in 12 years
Qantas flags 16-hour direct flights to London
PM hands Abbott a dressing down after boozy dinner left him asleep on the job
Victoria's Minister for Family Violence Prevention Fiona Richardson, aged 50, dies a day after announcing she was taking more time off after being diagnosed with multiple tumours.
CBA faces 'very large' shareholder action on money laundering
Trump delivers US military's dream Afghanistan plan: Kilcullen
Second Melbourne council dumps Australia Day ceremonies
PM hits back after North Korea warns Australia over 'suicidal act'