This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 988 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend September 30/ October 1, 2017.
ANZ-Roy Morgan Australian Consumer Confidence slipped 0.6% to 113.4 this week. The detail was mixed; sentiment towards economic conditions improved but this was more than offset by a fall in households’ views of their own finances.
ANZ Senior Economist, Felicity Emmett, commented:
- Consumers were more optimistic about both current and future economic conditions (up 2.5% and 2.0% respectively). Views towards current economic conditions have improved since the low point in May; however sentiment towards both current and future conditions remains below long run averages.
- Households’ views towards both current and future financial conditions fell 1.6% last week. Still, both sub-indices are showing some resilience and remain above their long term averages. The ‘time to buy a major household item’ index dropped 3.3% last week, entirely unwinding the previous week’s rise. On a four-week moving average basis, the sub-index has been trending down since August.
- Inflation expectations rose 0.1% to 4.5% on a four-week moving average basis.
“The slight fall in headline ANZ-Roy Morgan Australian Consumer Confidence once again masks some underlying volatility. Stepping back from the weekly changes – confidence in financial conditions remains above its long term average, which is encouraging given the headwinds households face in terms of high debt levels, low wages growth and higher energy costs. Meanwhile, though sentiment towards overall economic conditions currently sits above its post-budget low, consumers remain uncertain about the longer term prospects.
"Broadly, ANZ-Roy Morgan Australian Consumer Confidence appears to be basing around its long term average, supported by ongoing strength in the labour market and a more optimistic view of financial conditions. That said, the ‘time to buy a household item’ index remains below its long term average, consistent with our view that retail sales are likely to disappoint in August, after a period of strength earlier in the year.”
Click here to view the PDF of the latest ANZ-Roy Morgan Weekly Consumer Confidence Release.
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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 25 - October 1, 2017
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Merkel hangs on to power as far-right enters German Parliament
'The game is up': Big four banks drop their ATM withdrawal fees
Joy for Tigerland as Richmond ends 37-year drought at the MCG
US 'probing' North Korea to see if it is interested in dialogue
Hard to take seriously': Judge criticises Clive Palmer's evidence
US to recall Cuba embassy staff after mysterious 'attacks' on diplomats
Australia should prepare for North Korean attack, expert warns
Government strikes gas deal to shore up domestic supply
Budget bottom line improves by $4.4b, Morrison says
North Korea says Trump 'declared war'; reserves right to shoot down US planes
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