Data collected last weekend (Saturday and Sunday), based on 1,005 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence fell 0.3% to 113.9 in the week ending November 30. This is a small set-back following a solid 1.2% rise in the previous week. Looking through the weekly volatility, consumer confidence is trending modestly higher.
The decline last week was driven by softening perceptions of current conditions. Confidence in households’ finances compared to a year ago, the sub-index most correlated with household spending, fell 1.9%, after being broadly stable for the previous five weeks. The level of the sub-index still points to a modest pick-up in household spending (see Figure 5). ‘Time to buy a household item’ also fell (-2.3%) to the lowest level in ten weeks.
Meanwhile, expectations of the economic outlook and household finances all improved. These sub-indices tend to be correlated with petrol prices and the sharemarket (see Figures 2 & 3). Lower petrol prices suggest upside risks to confidence in coming weeks, although this may be offset to some extent if weakness in the Australian sharemarket continues.
ANZ Chief Economist Warren Hogan commented:
“While ANZ-Roy Morgan Consumer Confidence is trending higher, the pace of improvement continues to disappoint. The lack of momentum may in part reflect sustained weakness in wages growth. As such, the fall in petrol prices should be a small positive for households as lower petrol prices boost real income which could then be used to lift discretionary spending. This may also provide some boost to confidence in coming months.”
Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence Release.
Latest ANZ-Roy Morgan Consumer Confidence Releases
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
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.