This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 968 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend January 13/14, 2018.
ANZ-Roy Morgan Australian Consumer Confidence continues its uptrend with the headline index climbing 1.2% to 123.5 this week to the highest since October 2013. Details were mixed, however, with views around future financial and economic conditions providing a slight drag on the headline number.
ANZ’s Head of Australian Economics, David Plank, commented:
- The current finances sub-index rose 2.0% last week following a solid 5.8% rise the week prior. Meanwhile views around future financial conditions eased a touch (-0.2%). Both sub-indices sit above their long term average.
- Sentiment around current economic conditions rose 1.4% last week, bringing the index to its highest value since March 2013. Views around future conditions dipped 0.5% last week following a 4.2% increase previously.
- Sentiment around the ‘time to buy a household item’ improved a solid 3.4% lifting the index well above its long term average. The weekly inflation expectations number bounced to 4.7% last week, though it remains unchanged at 4.5% in four week moving average terms.
“The rise in ANZ-Roy Morgan Australian Consumer Confidence is quite encouraging and is consistent with the positive data out on building approvals and retail sales. In particular, the improvement in overall economic conditions since September supports our view of solid economic activity in 2018.
"Last week, we noted a positive seasonal bias to the first reading of the year. There is no clear seasonal bias in the second week, suggesting that the improvement in confidence this year may be more than just an empty resolution.
"In our view, persistently low wage growth has acted to constrain rising confidence for some time. As such we see the February wage data as vital to how consumer confidence plays out over the coming months. In the near term, the employment numbers, out later this week, may also have an impact.”
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 January 8-14, 2018
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Turnbull and Abe to discuss military deal amid China concerns
Australia wins the Sydney Test to claim the Ashes series 4-0
One in five Australian surgeons yet to complete sexual harassment training
Rising number of Australians dipping into super to pay medical bills
Sydney train commuters face 'indefinite delays' in second day of chaos
11,000 Victorian schoolkids using homelessness services, group warns
Samoan PM hits back at Australia's 'insulting' criticism of China aid