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ANZ-Roy Morgan Australian Consumer Confidence on the cusp at 114.5
November 24 2015
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,053 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend November 21/22, 2015.
ANZ-Roy Morgan Australian Consumer Confidence fell 1.2% to 114.5 this week. The four week moving average, however, continues to move higher, a trend that began when Malcolm Turnbull became Prime Minister.
ANZ Co-Head of Australian Economics Cherelle Murphy commented:
- This week, consumers’ views towards future finances fell 4.7%, more than offsetting the increase in the previous week. Views towards ‘finances compared to a year ago’ fell 0.2%, further adding to the overall decline in confidence.
- ANZ-Roy Morgan Australian Consumer Confidence towards the medium term economic outlook fell 2.0%, adding to the fall seen in the previous week. The subindex on economic conditions in the short term rose 0.9%, providing some offset to this.
- Confidence on ‘time to buy a major household item’ was up 0.4%, however levels remain well below their long run average (-4.1%).
“ANZ-Roy Morgan Australian Consumer Confidence fell for a second successive week. It is possible that the recent terrorist events are weighing on confidence. A recent Newspoll showed that around ¾ of Australians believe a terrorist attack is at least “likely” in Australia.
"Confidence levels remain elevated for now and above the long run average. This is likely a reflection of the current momentum in the jobs market, where opportunities in the services sectors appear to be rising. Unemployment fell nearly 0.3ppts to 5.9% in October. However there are various headwinds for households. Most notably, soft wages growth is likely to continue to weigh on household income and expenditure growth and the housing market is showing signs of softening.
"We will be watching to see if these factors as well as increased focus on government reforms, especially around tax, impact confidence in the weeks ahead.”
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.