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ANZ-Roy Morgan Australian Consumer Confidence virtually unchanged at 115.9
November 17 2015
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,004 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend November 14/15, 2015.
ANZ-Roy Morgan Australian Consumer Confidence fell 0.6% to 115.9 this week. This follows confidence reaching the highest level in almost two years in the prior week and the four week moving average continues to trend higher.
ANZ Chief Economist Warren Hogan commented:
- The fall in confidence was mainly attributed to consumers’ views towards the economic outlook. The sub-index ‘economy in the next 12 months’ was down 3.7%, and ‘economic conditions in next 5 years’ was down 2.4%.
- Consumers’ views towards their current finances also deteriorated (-1.0%). This was offset by a bounce in sentiment towards expected finances (+3.4%), which could reflect improved job security following last week’s strong employment data.
- The sub-index on ‘time to buy a major household item’ was flat, following falls in the previous fortnight (-2.8%), consistent with lower auction clearance rates.
“While ANZ-Roy Morgan Australian Consumer Confidence fell last week, levels remain elevated and well above their long run average. This is a good sign ahead of the critical Christmas retail season.
"Households remain confident in the new government as shown in recent news polls. The improvement in views about future finances likely reflect last week’s ABS employment data and the fall in the ABS unemployment rate below 6%.
"While momentum in the economy appears solid at the moment, further softening in the housing market could be a challenge for confidence in the months ahead. It is too early too ascertain whether last week’s terrorist attacks in Paris and Beirut have had an impact. We will need to wait for next week’s result.”
Gary Morgan, Executive Chairman, Roy Morgan Research says:
“Despite Opposition Leader Bill Shorten and other members of the Labor Party raising concerns about the potential GST reforms, Consumer Confidence this week remains virtually unchanged.
“In fact, all indicators of general confidence in Australia including ANZ-Roy Morgan Consumer Confidence, Roy Morgan Business Confidence (now at 119.3 – its highest for a year since November 2014) and the Roy Morgan Government Confidence Rating (at 119.5 – its highest since March 2011) have improved substantially over the past two months.”
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.