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ANZ-Roy Morgan Australian Consumer Confidence tracking up - now at 114.3
February 23 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 996 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend February 20/21, 2016.
ANZ-Roy Morgan Australian Consumer Confidence rose 0.6% to 114.3 this week. The 2.8% increase over the past three weeks partially retraces the declines recorded through January (-4.5%). With the negative impact from the financial market volatility in early January appearing to be short-lived, confidence is now tracking higher with most sub-indexes showing an improvement.
ANZ Chief Economist Warren Hogan commented:
- Consumer Confidence in the past few weeks shows consumers’ views towards their current personal finances and the near term economic outlook were most sensitive towards the financial market rout, falling between 6-8% in the last four weeks of January. They have, however, recovered in the past three weeks, with both rising a cumulative 4.2%. Overall though, households’ confidence in the economic outlook remains much weaker than their view of their own finances.
- Confidence towards whether ‘now is a good time to buy a major household item’ fell 4.0%, weighing on overall confidence.
“ANZ-Roy Morgan Consumer Confidence is starting to show an upward trend as financial market volatility wanes. With equity markets off their lows, consumers have turned their focus to domestic factors, notably the recent pick-up in auction clearance rates and solid conditions in the labour market.
"Looking ahead, developments in the policy debate, in particular around tax, are likely to influence consumer sentiment. Discussions around tax reform and spending cuts are likely to intensify ahead of the May Commonwealth Budget and could weigh on sentiment in the coming months.
"In addition, the impetus from the strength in the labour market may dissipate if employment growth slows around the middle of the year as we expect. This will be important for the outlook for monetary policy with the RBA looking for consumption growth to return to above trend later this year.”
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.