This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,114 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend June 9/10, 2018.
ANZ-Roy Morgan Australian Consumer Confidence bounced a strong 5.6% last week to 123.0, following a 1.0% decline in the previous week. The details were positive, with all subindices posting gains.
- Views towards current economic conditions recovered sharply last week (up 8.9%), following two successive weekly declines. This subindex is currently at its highest point in eighteen weeks. Similarly, households’ views towards future economic conditions rose 8.7% to 118.0, the highest since November 2013.
- Consumers’ views towards current financial conditions rose 3.9% to 109.1, partially reversing the cumulative 4.7% decline over the last two weeks. Consumers also remain optimistic about future financial conditions, which were up 1.6% last week on the back of a 3.3% rise in the previous week.
- The ‘time to buy a household item’ subindex rose 5.7% last week to 144.0 and remains well above its long-term average (134.0). Four-week moving average inflation expectations edged up to 4.5% (previously 4.4%).
ANZ’s Senior Economist, Jo Masters, commented:
“It is encouraging to see confidence recover sharply after two straight weekly falls, particularly given that the improvement was broad based. On a weekly basis, confidence is now at its highest since mid-January.
"This jump in confidence likely reflects favourable coverage of the strong Q1 GDP result, which appears to have trumped concerns about the weakness in house prices and rising global trade tensions. The fall in petrol prices last week may also have boosted confidence.
"In the near term, we expect another strong jobs growth print later this week, which should act to consolidate this rise in consumer confidence. That said, geopolitical developments continue to evolve and have the potential to weigh on confidence. Looking forward, however, it will be interesting to see whether higher confidence translates into stronger spending, given a softening housing market, still low wage growth, high levels of debt and a low savings rate.”
Click here to download the latest weekly ANZ-Roy Morgan Australian Consumer Confidence PDF.
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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.
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