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ANZ-Roy Morgan Consumer Confidence slips down to 116.5

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 997 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend June 2/3, 2018.
ANZ-Roy Morgan Australian Consumer Confidence slipped 1.0% last week to 116.5, following a 3.2% decline in the previous week. The details were subdued, with three out of five sub-indices posting declines.

  • Consumers’ views towards current financial conditions fell 2.0% to 105.0, the lowest in eight weeks. However, consumers were more optimistic about future financial conditions, which were up 3.3% last week following a 4.1% decline previously.

  • Views towards both current economic conditions fell a sharp 4.2% to 105.9 last week,though this sub-index remains above its long-term average of 102.0. Similarly, sentiment around future conditions fell for the third straight week, down 3.4% to 108.6 and the lowest in eight weeks.

  • The ‘time to buy a household item’ showed no change last week following a 3.9% decline in the previous week. Weekly inflation expectations came in at 4.5%, leaving the four week average unchanged at 4.4%.

ANZ’s Head of Australian Economics, David Plank, commented:

"Confidence was down again last week due to increased pessimism around Australian economic conditions and households’ current finances. The former may stem from renewed fears of a trade war as the US ended exemptions for the EU, Canada and Mexico on steel and aluminium tariffs. Meanwhile, the latter is likely weighed down by high petrol prices and concerns about falling capital city house prices.

"One bright spot was a rise in views towards future finances, perhaps impacted by the Fair Work Commission’s announcement of a 3.5% (vs 3.3% last year) minimum wage hike.

"Though confidence has deteriorated recently, views towards both financial and economic conditions remain above their long-term averages. Looking forward, the GDP release later this week is likely to influence confidence in the near term though global political concerns could also play a role.





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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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Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

40%-60%

25% or 75%

10% or 90%

5% or 95%

1,000

±3.0

±2.7

±1.9

±1.3

5,000

±1.4

±1.2

±0.8

±0.6

7,500

±1.1

±1.0

±0.7

±0.5

10,000

±1.0

±0.9

±0.6

±0.4

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2