This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,017 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend October 14/15, 2017.
ANZ-Roy Morgan Australian Consumer Confidence failed to sustain the gain showed last week, dropping 1.2% to 112.4. This dragged the index below its long term average. The loss was broad based as four out of the five sub-components showed a decline.
ANZ’s Head of Australian Economics, David Plank, commented:
- Consumers’ views about the current financial situation fell 1.6% from the previous week, although the index remains comfortably above its long term average. The ‘time to buy a major household item’ index fell 3.0% over the week.
- Households’ outlook on near and medium term economic conditions worsened for the second consecutive week, with the indices declining by 2.0% and 2.4% respectively. Both the indices remain below their long term averages.
- Views about future financial conditions were the only bright spot in this week’s release, with the index climbing 2.5% to end up at 126.5, the highest since April 17.
- Inflation expectations remained unchanged at 4.5% on a four-week moving average basis.
"Looking through the volatility, ANZ-Roy Morgan Australian Consumer Confidence has been hovering around its long-run average for some months with no clear trend. This week’s result continues that pattern. That said, there is no doubt that current household conditions remain stretched due to high debt levels and slow wage growth. We suspect these will remain constraints on the outlook for households for some time.
"In contrast the outlook for business activity has been increasingly positive in recent months, and we expect an upturn in the non-mining investment cycle to be an important part of Australia’s growth. This should support a continued recovery in the labour market, though we think there is some downside risk to the September employment data due out later this week as a consequence of recent overshooting. A weak employment result would not be concerning to us given the underlying signals about the labour market, but negative media headlines may dampen consumer sentiment somewhat."
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 October 9-15, 2017
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Ten dead as wildfires rip through California's wine country
India rules that sex with an underage wife is rape
Penalty rate cuts here to stay after unions lose court appeal
California wildfires rage with record death toll expected to climb
End of an era as Holden factory workers enter final week of production
Donald Trump has told his Secretary of State Rex Tillerson not to "waste his time" trying to talk to North Korea — but Australia's Foreign Minister says the US has "advanced" back-channel communication systems between Washington and Pyongyang.
Australian economy downgraded by IMF
Indian fans in Guwahati hold up signs apologising for the incident that saw a rock shatter a window of the Australian cricket team's bus.
Young Australians are being targeted in the biggest overhaul of private health insurance in decades, with premium discounts on the cards and a big focus on mental health.
Foreign buyers purchase a quarter of new homes in NSW
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