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ANZ-Roy Morgan Australian Consumer Confidence edges lower to 114.5
March 30 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,025 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend March 26/27, 2016.
ANZ-Roy Morgan Consumer Confidence fell 1.3% to 114.5 this week after a 0.3% fall in the previous week. The government’s decision to bring forward the Commonwealth Budget and the prospect of a double dissolution election is likely to have been a factor in the decline last week. The details of the report were mixed.
ANZ Head of Australian Economics Felicity Emmett commented:
- Consumers’ views of their current finances dipped 4.1%, whereas views towards future finances edged 0.6% higher. Overall, consumers’ views towards their personal finances have been on an upward trend since October last year.
- Households’ views of the 12 month economic outlook dropped 5.0%, while views towards the economic outlook in the next 5 years rose 2.3%. Overall consumers’ views towards the economic outlook have picked up in the last six weeks, however they remain well below their long run average.
- Consumers’ views towards whether ‘now is a good time to buy a major household item’ fell 0.8%.
“ANZ-Roy Morgan Consumer Confidence has edged lower in the past two weeks following recent highs. While the latest falls in the stock market have likely played a part, we expect that a larger contributing factor is likely to have been the news of a possible double dissolution election. Greater uncertainty in the lead-up to an election has the capacity to weigh on confidence, and this uncertainty could well be heightened with the prospect of a double dissolution election, the likes of which we haven’t seen since 1987.
"Moreover, the government’s decision to bring forward the Commonwealth budget is likely to put the issue of strained public finances firmly at the front of consumers’ minds.”
Click to view the PDF of the ANZ-Roy Morgan Weekly Consumer Confidence Release.
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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.