This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,080 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend December 9/10, 2017.
ANZ-Roy Morgan Australian Consumer Confidence slipped 0.6% this week to 115.1, effectively unwinding the 0.7% gain in the previous week, but remaining above its long run average. The details were mixed; sentiment around financial conditions declined, but the remaining indexes posted small gains.
ANZ’s Head of Australian Economics, David Plank, commented:
- Households continue to remain upbeat about both current and future economic conditions, with the sub-indices up 0.9% and 0.8% respectively. In four week moving average terms, views towards current economic conditions are at their highest point since late 2013.
- Views towards current financial conditions fell 2.7% last week, more than reversing the 1.7% gain previously, and bringing the sub-index to a 6 week low. Views towards future financial conditions also deteriorated, falling 2.8% last week. Even so, both sub-indices currently sit above their long term averages.
- Sentiment around the ‘time to buy a household item’ rose 1.1% last week while inflation expectations were stable at 4.5%.
“Households’ views towards overall economic conditions have improved substantially over the last two months, supported by a strong labour market and accommodative monetary policy. However, confidence in financial conditions, particularly in the near term, remains under pressure. This reflects several headwinds that consumers face, particularly high household debt and persistently weak wage growth.
"Still, the overall improvement in sentiment holds out the prospect for a stronger gain in consumer spending in the current quarter after growth of just 0.1% in household consumption in the September quarter. The bounce in retail sales in October suggests this may be the case.
"While we expect a lower-than-consensus number for employment growth out later this week, this reflects our view that official numbers have overshot leading indicators, rather than a softening in conditions. Overall, labour market conditions remain solid and will likely continue to support confidence in the near term.”
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 December 4-10, 2017
Trump lashes out at FBI over Russia probe, says its reputation 'in tatters'
Major Chinese banks reject bankrolling Adani mine
Foreign buyers own up to 400,000 Australian homes: ANZ
Vladimir Putin to seek another term as Russian president
Donald Trump recognises Jerusalem as Israel's capital
Australia blitzes England to complete Adelaide win and take 2-0 Ashes lead
Bill Shorten is facing a by-election headache, with the release of MPs' citizenship documents leaving four Labor MPs and a Nick Xenophon Team MP with questions to answer.
Peak-hour trains from Victoria's regional centres 'like travelling in cattle truck'
Crown Casino sued over share price collapse following arrests in China
Protesters clash with Milo Yiannopoulos supporters in Melbourne
Amazon launches in Australia, local retailers brace for onslaught
Labor senator under citizenship scrutiny after UK renunciation letter delay