This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,003 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend May 21/22, 2016.
ANZ-Roy Morgan Australian Consumer Confidence added to recent gains, rising 0.5% this week to 115.7, to be 3.6% higher over the past four weeks. This increase likely reflects several factors including last week’s jobs report (which confirmed healthy conditions in the labour market), strong auction clearance rates, the positive impact from the RBA rate cut three weeks ago, and ongoing gains in equity markets since early April.
ANZ Senior Economist Jo Masters commented:
- Consumers are more optimistic about their finances with the indicator on ‘finances in the next 12 months’ bouncing 3.4% last week and ‘finances compared to a year ago’ up 1.4%. This improvement is encouraging as these measures are well correlated with household spending.
- In contrast, consumers were a little less optimistic about their views on the economy. The sub-index on ‘economy in the 12 months’ was down slightly and ‘economic conditions in the next 5 years’ fell 2.2%.
“ANZ-Roy Morgan Australian Consumer Confidence has been ticking up over the past four weeks, and is now 2.6% above its long run average, with a number of positive factors coming into play. Last week’s lift in confidence was underpinned by stronger optimism around household finances, with this likely reflecting the recent rate cut by the RBA and further gains in equity markets. Higher levels of confidence are also consistent with another week of solid auction clearance rates, particularly in Sydney and Melbourne. Adding to the positive mix was last week’s labour market report, which showed the unemployment rate steady at 5.7%, its lowest since September 2013.
"Interestingly the current election campaign does not appear to be unnerving consumers despite the fact that the polls remain close. With another five weeks left in the election campaign, confidence remains vulnerable to any key developments.”
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.
The week that was - May 16-22, 2016
Labor figures targeted in 'unprecedented' AFP raids
Australian Federal Police officers search the office of a senior Labor frontbencher and the home of an Opposition staffer in a move described as "extraordinary and unprecedented" during an election campaign
WA Government cuts parenting support programs
Xenophon calls on Government to scrap backpacker tax
The Liberal Party's candidate for the federal seat of Fremantle resigns amid controversy over past comments he made about same-sex marriage and constitutional recognition
Reserve Bank signals further interest rate cuts likely
Victoria meets with banks over support for struggling dairy farmers
There are calls for Immigration Minister Peter Dutton to apologise after he said significantly increasing the humanitarian refugee intake would lead to "illiterate and innumerate refugees"
Sherry Sufi quits as Liberal candidate for Fremantle
Turnbull backs Dutton on 'illiterate' refugee remarks