Data collected last weekend (Saturday and Sunday), based on 1,042 face-to-face interviews.
ANZ-Roy Morgan Consumer Confidence was unchanged at 114.6 in the week ending November 2. This follows a 2.7% jump in the previous week, bringing the four-week average to its highest level since late April.
Confidence in household finances improved last week. Perceptions of household finances compared to a year ago, the subindex most correlated with household consumption, edged 0.9% higher and continues to point to a modest pickup in consumer spending (Figure 4). Meanwhile, perceptions of household finances next year rose by 1.6% to the highest level since early April.
Expectations of the economic outlook next year was the only sub-index to fall last week, declining 5.8% and partially retracing the previous week’s near 10% jump. Overall, confidence in the economic outlook remains much softer than confidence in household finances (Figure 3).
ANZ Chief Economist Warren Hogan commented:
“Healthy levels of the ANZ-Roy Morgan Consumer Confidence, combined with a lower AUD, rising house prices and a gradual strengthening in labour demand (as indicated by yesterday’s October ANZ job ads), should provide good momentum to retail sales as we head into the Christmas spending season. However, soft income growth will remain a headwind to the household sector into 2015.”
Click to view the PDF of the 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.