This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,078 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend November 18/19, 2017.
ANZ-Roy Morgan Australian Consumer Confidence rose 1.4% to 116.4 this week, its highest level in 16 weeks. The details were broadly positive, with three out of five sub-indices posting gains, while the other two showed only slight falls.
ANZ Senior Economist, Felicity Emmett, commented:
- Households’ views towards both current and future economic conditions were up 2.9% and 2.0% respectively, following a solid 3.5% and 7.0% increase previously. Both sub-indices sit at multi-week highs.
- Household views toward the state of their current finances slipped for the third consecutive week (-0.4%). Even so, current conditions remain well above their long term average. Encouragingly, their views towards future conditions jumped 3.0% last week, the first increase in four weeks.
- Inflation expectations remain unchanged at 4.5% in four-week moving average terms.
“Sentiment has improved considerably over the past two weeks, driven primarily by an upswing in views towards current and future economic conditions. This improvement likely reflects ongoing labour market strength, with the most recent jobs report showing a decline in the unemployment rate to multi-year low of 5.4%. In addition, the success of the ‘Yes’ vote in the marriage equality plebiscite, may have provided a boost to confidence.
"The outlook for employment in the near term remains positive, consistent with elevated business conditions and leading labour market indicators, and this should continue to broadly support confidence. However, last week’s weaker-than-expected wage growth is likely to weigh on consumers, particularly in the current environment of moderating house price growth and high household debt. Together, these factors are likely to cap the extent of improvement in sentiment.”
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 November 13-19, 2017
Turnbull clinches Greens support to refer Labor MPs to High Court
Jacinda Ardern to talk about 'unacceptable' Manus situation with Turnbull again
Argentina launches rescue mission in Atlantic hunt for missing submarine
Bernardi to field candidate in Bennelong by-election
The gender pay gap has narrowed … to $26,527 per year
Tabcorp-Tatts $11bn merger approved by Competition Tribunal again
UN chief calls for Zimbabwe calm as Mugabe remains under house arrest
Australian diplomat dies in NY after falling from 7th floor balcony
Same-sex marriage bill introduced to Federal Parliament
It's Kristina Keneally vs John Alexander in the by-election battle for Bennelong
'I'm gone': Gutted Lambie quits Senate in latest citizenship shock
Death toll from powerful earthquake near Iraq-Iran border rises above 200