This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,024 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend June 30/July 1, 2018.
Headline ANZ-Roy Morgan Australian Consumer Confidence fell for the third straight week, down 0.8% to 120.4. The details were mixed – consumers’ optimism around financial conditions was outweighed by their concerns on economic conditions.
- Consumers’ views towards current financial conditions rose another 2.8% last week to 109.7, the highest in six weeks. Sentiment around future conditions edged up 0.2% last week following a 6.5% fall previously.
- Households’ assessment of current economic conditions fell a sharp 6.6% last week, more than unwinding the previous week’s 5.0% gain. Views towards future economic conditions were down 2.5% last week, after remaining unchanged the prior week. Despite this, both subindices sit above their long term average.
- The ‘time to buy a household item’ subindex bounced 1.5%, partially recovering from the 2.3% fall previously. Four week moving average inflation expectations were unchanged at 4.5%.
ANZs Head of Australian Economics, David Plank, commented:
“Confidence has moderated slightly over the last three weeks, following a sharp bounce after the Q1 GDP report. It still sits well above average, however.
"Last week’s decline was primarily driven by a fall in economic conditions. Views towards economic conditions have been quite volatile on a weekly basis, often following geopolitical headlines. Broadly however, economic conditions are quite robust, sitting above their long term average and supported by strong labour market conditions.
"Despite the recent moderation, confidence remains elevated with all subindices sitting above their long term averages. It is certainly encouraging to see consumers remaining upbeat in an environment of falling house prices and sluggish wage growth.”
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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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