This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,062 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend June 23/24, 2018.
The headline ANZ-Roy Morgan Australian Consumer Confidence fell a touch (-0.6%) from the previous week to 121.4. The four week moving average ticked up to 120.8, the highest in four months. Two out of the five sub-indices showed declines this week, while one was steady.
- Consumers’ views towards current financial conditions strengthened by 2.8% compared to last week, while that towards future conditions worsened by 6.5% after three straight weekly gains. In both cases this reversed the direction of last week’s move.
- Expectations regarding economic conditions improved, with views towards current conditions registering solid gains (5.0% to 116.5) to reach a four month high. The future economic conditions index remained unchanged at 117 from the previous week. Both the indices are comfortably above their long term average.
- The ‘time to buy a household item’ subindex fell 2.3% last week to 143.0. The four week moving average inflation expectations fell to 4.5% (previously 4.6%).
ANZ’s Head of Australian Economics, David Plank, commented:
“Consumer confidence has consolidated over the past two weeks, after jumping sharply in early June, leaving the four week moving average at four month highs.
"It’s a little disappointing that the passage of the income tax cuts through Parliament last week failed to boost expectations about future finances, although this likely reflects the softer housing market and ongoing global tensions.
"Stepping back from weekly volatility, consumer confidence has been on an upward trajectory for some months. This is encouraging in the face of falling house prices and provides some comfort given that we see household spending as the key domestic risk to the economic outlook.”
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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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