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ANZ-Roy Morgan Consumer Confidence pulls back after three consecutive increases

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,021 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend January 20/21, 2018.
ANZ-Roy Morgan Australian Consumer Confidence fell 3.3% to 119.4 this week following three consecutive strong reports. The fall was broad based, with views towards current finances leading the pullback.

  • The current finances sub-index fell a sharp 9.1% to 104.7, partially unwinding gains over the previous three weeks. In comparison, views towards future finances fell a more modest 2.2%, following a 0.2% decline in the week prior. Despite the weekly falls, both sub-indices sit above their long term average.

  • Households’ pessimism also extended towards the economic outlook. Views around current and future economic conditions dipped 3.6% and 1.3% respectively, though both subindices remain elevated compared to recent lows.

  • Sentiment around the ‘time to buy a household item’ slipped 1% last week following a 7.9% rise over the preceding two weeks. Four week moving average inflation expectations edged up by 0.1% to 4.6%.
ANZ’s Head of Australian Economics, David Plank, commented:

“Consumer Confidence pulled back this week after a series of strong reports. Talk of electricity blackouts and a proposed rail strike in Sydney may have weighed on overall sentiment. It is also possible that the New Year return to work was a factor for some.

"The sharp fall in sentiment around households’ current finances may reflect a jump in petrol prices across Melbourne and Brisbane amidst an environment of low wage growth. Despite the weekly fall, this sub-index sits well above its long term average, as does the headline index.

"Looking past the weekly volatility, we expect sentiment to remain supported by a strong labour market and a solid outlook for economic activity in 2018.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - January 23, 2018 - 119.4
ANZ-Roy Morgan Australian Consumer Confidence Rating - January 23, 2018 - 119.4

ANZ-Roy Morgan Australian Consumer Confidence Rating - January 23, 2018 - 119.4

Click here to view 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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