This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,057 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend August 13/14, 2016.
ANZ-Roy Morgan Australian Consumer Confidence bounced a solid 2.5% to 117.6 this week – largely offsetting the decline over the previous week. Sentiment is now 4.3% above its long run average.
ANZ Head of Australian economics Felicity Emmett commented:
- The improvement in confidence was driven by a sharp rebound in consumers’ views of the economic outlook. Households’ views of the 12 month economic outlook bounced a solid 9.6% – more than offsetting the decline over the previous week. Household views’ of the five years economic outlook also improved considerably, up 4.6%.
- Consumers were also a touch more optimistic about their finances. Consumers’ views of their current finances were flat, while views of future finances rose 1.7%.
- Consumers’ views towards whether ‘now is a good time to buy a major household item’ fell 1.1%.
“While ANZ-Roy Morgan Australian Consumer Confidence has been volatile recently, it remains well above its long run average. Last week’s rebound in confidence was underpinned by a strong bounce in the economic outlook subindices. Australians’ perceptions of the economic outlook have likely been supported by a combination of factors: the strength in the housing market (with strong auction clearance rates, especially in Sydney and Melbourne); relatively resilient business sentiment; low interest rates (especially with the RBA’s decision to cut the cash rate two weeks ago); and ongoing strong performance in equity markets.
"The strength in the labour market remains a key driver of confidence. On this front, this week’s employment data will be important for the near term direction of consumer confidence.”
Click here 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.
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