This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,081 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend June 11/12, 2016.
After jumping to a multi-year high the previous week, ANZ-Roy Morgan Australian Consumer Confidence was little changed this week, edging down 0.3% to 116.4. Confidence is now sitting at nearly 4% above its long run average, and the four week moving average is on a clear upward trend.
ANZ Head of Australian Economics Felicity Emmett commented:
- The change in confidence was almost entirely driven by a decline in consumers’ views towards buying a household item, down 2.3% last week. This only partially reverses the solid improvements in this sub-index over previous weeks (likely boosted by the rate cut last month).
- Consumers’ views towards their current finances remain upbeat, with the sub-index rising a solid 1.7% last week. This was only partially offset by weakness in the sub-index on ‘finances in the next 12 months’, which fell 0.3% following solid rises over the previous two weeks.
- Consumers’ views of the economic outlook also remain optimistic. Views towards ‘economic conditions in the next 12 months’ rose 0.3%, and views towards ‘the economy in the next 5 years’ edged down 0.1%. Both indices bounced sharply the previous week.
“ANZ-Roy Morgan Consumer Confidence consolidated last week after spiking in the previous one. Confidence has remained resilient over the past few weeks, despite the long election campaign and the fact that the polls remain particularly close. At current levels, well above its long run average, confidence looks quite robust.
"It’s particularly encouraging that consumers remain upbeat about their current financial situation given that this index is a reasonable indicator of household consumption. It suggests household spending will likely continue to post solid growth in Q2.
"An improving labour market is a key driver of consumer optimism. On this front, this week’s employment data will be important for the near term direction of consumer confidence.”
Click to view the PDF of the latest 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.
The week that was June 6-12, 2016
Turnbull backs volunteer firefighters at protest in Melbourne
Reserve Bank leaves interest rates on hold
- Premier Daniel Andrews faces revolt over firefighters' deal
- Mr Shorten said preference decisions would be made by the party.
- Labor launched its 10-year economic plan
Indicating that part of that plan means allowing the budget to worsen over the short term.
Rob Oakeshott is back
The former member for Lyne made the announcement on social media today, saying he would stand in the seat of Cowper.
Shorten takes aim at higher-income families
The Federal Opposition announces it will cut back tax benefits for higher-income families if it wins power.
Mining industry to lose 50,000 more jobs as boom comes to an end: NAB
Recent polling has suggested the Liberal-held seats of Mayo and Sturt could fall if the Xenophon candidates receive a strong flow of preferences.
Coalition dismissed Labor's call for a royal commission into banks
SA Government promises $50m for troubled steelmaker Arrium
Mr Shorten has refused to say whether Labor would preference the Liberal Party to stop the Nick Xenophon Team winning seats.
Campaign takes backseat to flood recovery
CFA rejects proposed EBA as Victorian Premier returns for crisis meetings
Tussle in Tamworth: Joyce, Windsor grilled over coal seam gas, NBN on Q&A