This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,121 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend April 22/23, 2017.
ANZ-Roy Morgan Australian Consumer Confidence extended its losses for a second week, with the headline index falling 1.24% to 111.2 - below its long run average.
ANZ’s Head of Australian Economics David Plank commented:
- Households’ views towards their current finances fell 1.2% on a weekly basis, while views about future finances fell 0.6%.
- Households’ expectations for economic conditions next year registered the sharpest drop, a fall of 5.3% taking the index to its lowest level since February 2016. Expectations for economic conditions over the next five years rose slightly by 0.2%, but are still close to the lowest level for 2017.
- The ‘good time to buy a household item’ index fell by 0.2%, after a sharp drop recorded last week.
- Inflation expectations were unchanged at 4.3%, with the four week moving average holding steady at 4.3%.
“Most of the fall in ANZ-Roy Morgan Australian Consumer Confidence was driven by expectations for economic conditions over the coming year. These are now the lowest they’ve been since early 2016, before the RBA resumed its easing cycle. While longer-term expectations gained slightly, they are still close to their lowest level for the year. We think continued low wage growth is likely behind the weakness in these categories. Rising geopolitical risks might also have fed into households’ concerns about the outlook.
"The weakness in consumer sentiment stands in contrast to the more optimistic outlook of firms and the very high level of reported business conditions. The strong March employment figures were consistent with this bullish business sentiment. It is possible that we are in for a period of stronger job reports that further close the gap between the official figures and what surveys such as ANZ job ads and NAB business conditions are telling us. This may be enough to prevent a further decline in consumer sentiment. But we doubt we will see a sustained improvement until income growth picks up.”
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 17-23, 2017
Trump's Syria strike a warning to North Korea's provocations
Government abolishing 457 visas to promote 'jobs for Australians'
North Korea warns Australia against 'blindly' following US
CBA raises home loan rates up to 0.5 percentage points
Unions ramp up fight over 'out-of-touch' penalty rate cut
Melbourne's median house price hits record high of $826k
Citizenship test overhaul to prioritise 'Australian values'
Government expected to commit more than $1b to building inland rail
Turnbull echoes Trump with 'Australia first' rhetoric
Goodbye Clive: Palmer to disband PUP
Bishop warns North Korea missiles could reach Australia