Data collected last weekend (Saturday and Sunday), based on 1,143 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence rose a modest 0.2% to 114.8 in the week ending November 9 to be up almost 3% over the last three weeks. The four-week average nudged higher to 113.9 and is around 13% above the lows reached earlier in the year.
The improvement was driven by rising confidence in the economic outlook over both the next year (+2%) and the next five years (+4.7%), although both sub-indices remain at below-average levels.
ANZ Chief Economist Warren Hogan commented:
“While it is encouraging that ANZ-Roy Morgan Consumer Confidence is now trending higher, the pace of improvement is slightly disappointing. Confidence in the economic outlook remains subdued (despite the rise last week) and is likely contributing to the unusual sensitivity of households to negative economic newsflow. This has caused three sizeable drops in confidence this year in response to job losses in the aviation and manufacturing industries, Federal budget cuts and a surge in the unemployment rate (later revised). A gradual improvement in the non-mining economy over coming quarters should help to build stronger and more sustainable momentum in confidence into 2015.”
Click to view the PDF of the 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.