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ANZ-Roy Morgan Australian Consumer Confidence recovers after stumble - up 3.7pts to 114.8
April 11 2017
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,054 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend April 8/9, 2017.
Headline ANZ-Roy Morgan Australian Consumer Confidence jumped by 3.3% this week, more than reversing the previous week’s fall. The four week average climbed 0.4ppt to 112.9 to be in line with the long-term trend.
ANZ’s Head of Australian Economics David Plank commented:
- Increases were observed across the board, with households’ views towards their current finances registering a gain of 5.2% to 107.0, the highest since February. Views about future finances also improved by 1.4% to 123.9.
- Expectations for economic conditions for next year increased by 3.5% on a weekly basis, as did expectations for economic conditions in the next five years (2.6%).
- The ‘good time to buy a household item’ sub-index increased by 4.3%, to above its long term trend.
- Inflation expectations were largely unchanged at 4.3%, with the four week moving average holding steady at 4.3%.
“ANZ-Roy Morgan Australian Consumer Confidence picked up last week, reversing the recent trend. The rise pulled the four week moving average up to be on par with its long run average.
"We suspect that solid fundamentals reasserted their influence last week, after the dampening impact of the Queensland floods in the previous week. The strength in the housing market is likely providing some support to confidence, with house prices continuing to rise quite strongly and buoyant auction clearance rates suggesting that prices may not yet have peaked. Ongoing elevated unemployment and persistent weakness in wage growth, however, will continue to weigh on consumer confidence in our view.
"While last week’s pick-up in sentiment is encouraging, we remain of the view that spending growth is likely to remain constrained in a low wage environment, consistent with the recent softness in retail sales.”
Click here to view the 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.
The week that was April 3-9, 2017
Rockhampton braces for worst flooding in 60 years
Xenophon, Government strike company tax cut deal
A terrorism investigation is underway in Russia after an explosion on a train carriage in St Petersburg's underground metro killed at least 10 people and injured dozens more.
Reserve Bank holds interest rates steady at 1.5pc
Russia 'strongly condemns' US missile strike on Syria
Man arrested after four killed in Stockholm truck 'terror attack'
Thousands of people at the top of New Zealand's North Island are told to evacuate as the tail end of Cyclone Debbie batters the country, bringing heavy rainfall and major flooding.
‘Huge relief': Rockhampton's flood level lower than expected
Emergency UN meeting sees Syria, Russia blamed for gas attack
Suspected gas attack kills at least 58 in Syria
Record 900kg of drug ice seized by police in Victoria
Westpac raises home loan interest rates
'It's going to hurt big': Australia's biggest hardwood mill to close
NAB raises home loan interest rates
In a fiery press conference, Federal Energy Minister Josh Frydenberg and SA Premier Jay Weatherill trade blows over SA's plans to "go it alone" in energy supply for the state.