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ANZ-Roy Morgan Consumer Confidence firms to 117.7

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,111 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend September 1/2, 2018.
ANZ-Roy Morgan Australian Consumer Confidence firmed 1.0% last week, on the back of a 2.1% bounce in the prior week. The headline increase was primarily driven by a sharp rise in the ‘time to buy a household item’ subindex.

  • Households’ perception of current financial conditions improved 0.5% last week, adding to a 1.2% bounce in the previous week. Similarly, sentiment towards future financial conditions edged up 0.2% last week, following a 3.1% rise in the prior week.
  • Consumers were less optimistic about current economic conditions – their assessment declined 2.1% last week, partially reversing the 2.9% rise in the previous week. Encouragingly, however, views towards future economic conditions rose 0.7% last week, on the back of a 6.1% rise the previous week – bringing the subindex to its highest value in seven weeks.
  • The ‘time to buy a household item’ subindex posted a sharp 5.2% rise last week, ending a streak of weekly declines. Four-week moving average inflation expectations were unchanged at 4.3%.

ANZ Head of Australian Economics, David Plank, commented:

“Encouragingly, confidence firmed for the second straight week, with four out of five subindices posting gains. We were concerned that news of a mortgage rate increase by one of the major banks might be a big blow to sentiment, but consumers appear to be taking it in their stride for the moment at least.

"We have previously highlighted the weakness in the ‘time to buy a household item’ subindex over the last two months. A sharp increase in the subindex last week is, therefore, quite timely. While the headwinds to households remain, namely sluggish wage growth, falling house prices and high levels of debt, there are certainly some offsets. Income tax cuts, the new Childcare Subsidy and falls in certain utility prices should all help consumers’ wallets, providing some more resilience to the outlook for consumption this year.”

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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Roy Morgan is the largest independent Australian research company, with offices throughout Australia, as well as in Indonesia, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan has over 70 years’ experience in collecting objective, independent information on consumers.

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

40%-60%

25% or 75%

10% or 90%

5% or 95%

5,000

±1.4

±1.2

±0.8

±0.6

7,500

±1.1

±1.0

±0.7

±0.5

10,000

±1.0

±0.9

±0.6

±0.4

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2