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ANZ-Roy Morgan Australian Consumer Confidence falls further - down 0.6pts to 115.2

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 950 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend July 9/10, 2016.
ANZ-Roy Morgan Australian Consumer Confidence declined for the third week in a row, down 0.5% to 115.2 this week. Uncertainty related to the election result and lingering concerns over the global outlook likely remain key factors behind the recent decline. Last week’s downgrade from Standard & Poor’s to the outlook for Australia’s credit rating – from stable to negative – could also have weighed on sentiment.

  • The decline in confidence was driven by a more pessimistic economic outlook. Households’ views of the 12 month economic outlook dipped 4.1%, while views towards the economic outlook in the next 5 years declined 2.7%.

  • In contrast, consumers’ views of their current finances edged 0.3% higher, while views towards future finances increased a sharp 4.3%, largely reversing the fall over the previous week.

  • Consumers’ views towards whether ‘now is a good time to buy a major household item’ fell 1.3%.
ANZ Head of Australian Economics Felicity Emmett commented:

“The fall in ANZ-Roy Morgan Australian Consumer Confidence of close to 3% over the past three weeks partly reverses the lift seen through May and early June, back when confidence reached a 2½ year high. Confidence has been buffeted by uncertainty surrounding the domestic political outlook, as well as concerns over global growth. The downgrade of Australia’s credit rating outlook by S&P is also likely to have weighed on consumer sentiment.

"Household sentiment remains well above its long-term average, although how sustainable this is remains to be seen. That said, the fact that a hung parliament looks to have been narrowly avoided is encouraging. More important, though, will be the performance of the labour market. In this regard, we keenly await Thursday’s employment numbers.”

ANZ-Roy Morgan Australian Consumer Confidence - July 12, 2016 - 115.2
ANZ-Roy Morgan Australian Consumer Confidence - July 12, 2016 - 115.2

ANZ-Roy Morgan Australian Consumer Confidence - July 12, 2016 - 115.2

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 July 4-10, 2016

  • Australians will not pay more to see the doctor: Turnbull

  • Turnbull claims election victory

  • Shorten's leadership to be reaffirmed by party

  • Nick Xenophon ready for talks on hung parliament

  • Australia is starting the week without a winner after Saturday's federal election delivered no result.

  • 'I think he should quit': Turnbull not up to the job, says Shorten

  • PM takes responsibility for campaign as Labor claims he's plotting a fresh election

  • Reserve Bank leaves interest rates on hold

  • Turnbull takes 'full responsibility' for Coalition campaign performance

  • Liberals to retain Melbourne seat of Dunkley

  • Katter confirms support for Turnbull Government