This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 970 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend May 28/29, 2016.
ANZ-Roy Morgan Australian Consumer Confidence fell 2.2% to 113.2 this week, partially reversing the 3.6% increase over the previous four weeks. Confidence remains just above its long run average (+0.4%). The fall last week was largely driven by concerns about the economic outlook.
- Consumers were much less optimistic about future economic conditions. The sub-index on ‘economic conditions in the next 12 months’ fell 6.6% and ‘economic conditions in the next 5 years’ fell 2.4%, following falls in the previous week.
- On the other hand, consumers’ views towards their financial situation were mixed. Consumers were less optimistic about their future finances, down a sharp 4.7%, which was slightly offset by a 0.7% increase towards current finances.
- Consumers were more optimistic about whether ‘now is a good time to buy a major household item’. This is consistent with strong auction clearance rates over the weekend.
ANZ Senior Economist Jo Masters commented:
“It is disappointing to see confidence retrace much of the gains of the last four weeks. Looking at the detail, consumers appear to be increasingly nervous about the outlook for the economy and their finances in 12 months. It’s not clear what has driven this, given recent positive performances in both property and equity markets. It is, however, possible that the election campaign is starting to weigh on confidence.
"There is plenty of economic data this week to provide consumers with a stocktake of how the economy has performed recently. While consumer spending and the housing sector are likely to have contributed to economic growth, business investment remains weak and will continue to be a drag on activity. Tomorrow’s GDP report will likely shape news flow in the coming days and has the potential to influence consumers’ confidence.”
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.
The week that was - May 23-29, 2016
Labor accused of $67b budget 'black hole'.
Today the Deputy Prime Minister announced an assistance package for dairy farmers.
GPs 'at breaking point' over Medicare rebate freeze.
60 Minutes producer leaves Nine over failed child recovery.
Bill Shorten announces 500 extra hours of women's sport coverage.
Nova Peris not contesting Senate spot.
'Years of hard work ahead' to repair budget, warns Reserve Bank governor.
Share market closes at highest level in nine months.
Thousands protest against Baird Government, Westconnex in Sydney.
Game on: Turnbull and Shorten prepare to face-off in debate.