This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,064 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend September 17/18, 2016.
ANZ-Roy Morgan Australian Consumer Confidence fell 2.2% to 115.5 this week, unwinding some of the previous week’s gain. Last week’s sell-off in financial markets – which raised fears of a sharper correction across bonds and equities - was likely the main driver of the fall in confidence. Financial market weakness looks to have trumped the news of a dip in the unemployment rate to a three-year low of 5.6%.
ANZ Head of Australian Economics Felicity Emmett commented:
- The weakness in confidence was broadly based. Consumers’ views towards their current and future finances both declined 1.8%.
- Households’ views of the economic outlook were also weaker. Views of the 12-month economic outlook dropped 1.1% while views of the 5-year economic outlook dipped 1.4%.
- Household views on whether ‘now is a good time to buy a household item’ dropped a sharp 4.6%.
“ANZ-Roy Morgan Australian Consumer Confidence dipped 2.2% this week although it remains high by historical standards. Last week’s sell-off in financial markets – which saw the ASX index suffer heavy losses early in the week – was likely the main driver of the decline in confidence.
"Equity markets have now rebounded from last week’s lows. As such, we think consumers will likely turn their focus back to domestic fundamentals. The strength in the housing market, low interest rates, and an improving labour market should all continue to support confidence in the near term.”
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.
The week that was September 12-18, 2016
Federal Cabinet signs off on plans to hold the same-sex marriage plebiscite on February 11 next year, and to allocate public funding for both the "yes" and "no" campaigns.
LNP backbencher George Christensen wants the Government to consider restricting immigration from countries with violent extremists.
Labor senator Stephen Conroy has announced his shock retirement from politics.
Residents in Charlton, Victoria brace for flood peak
Rob Katter pushes to split Queensland into two states
Labor hammers PM over super back-down
New medicine approval process to allow quicker access to breakthrough drugs
Freshly elected Senator Derryn Hinch from Victoria names and shames convicted sex offenders