This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,010 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend February 18/19, 2017.
ANZ-Roy Morgan Australian Consumer Confidence fell for the third straight week (down 2.3%) bringing the headline index to its lowest value since December. The fall was driven by a sharp decline in views toward current finances and also views on economic conditions over the next five years.
ANZ’s Head of Australian Economics David Plank commented:
- Households’ views of current finances fell a sharp 7.5% in the week ending 19 February, bringing the index down its lowest level since August 2014. Meanwhile, sentiment towards future finances improved slightly, up 0.3% over the week.
- Households’ views of economic conditions over the next 12 months declined by 1.6%, following a 3.8% decrease the previous week. Sentiment regarding economic conditions over the next five years dropped 4.9% this week, reversing recent gains, and bringing the index to its lowest level in 12 weeks.
- The ‘good time to buy a household item’ sub-index provided some encouragement, rising 1.3% this week.
“The fall in ANZ-Roy Morgan Consumer Confidence this week is somewhat surprising, given that recent data have been broadly positive. Signs of renewed weakness in full-time employment may have weighed on consumers views’ of their personal finances even as the headline unemployment rate ticked down. It is also possible that recent discussions on housing affordability have negatively impacted sentiment.
"Views on financial conditions have been trending down since the start of 2017 and have now dropped to around the long-run average. This warrants some concern as the sub-index is closely correlated with consumer spending.”
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 February 13-19, 2017
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Politicians' entitlements scrapped with expenses under scrutiny
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Air-traffic job cuts putting lives at risk, insiders warn
Renewables the solution to rising power prices: Energy Australia
Greens attack Coalition, Labor during 'clean coal' debate
Embattled Trump security adviser quits over Russian contact
NSW fires: At least 30 homes confirmed lost across NSW, fires continue