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ANZ-Roy Morgan Australian Consumer Confidence Rating falls 2.3% to 115.5
November 22 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,022 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend November 19/20, 2016.
ANZ-Roy Morgan Australian Consumer Confidence fell 2.3% to 115.5 this week after a 0.3% rise the previous week. The fall was driven primarily by a decline in households’ views on the economic outlook. Their views on financial conditions, on the other hand, have improved.
ANZ Senior Economist Jo Masters commented:
- Households’ views on economic conditions over the next 12 months and 5 years fell a sharp 5.6% and 7.5% respectively – partially reversing the gain over the past 3 weeks.
- Households’ views towards their finances compared to a year ago rose 2.1% this week after a 0.8% fall the previous week. Meanwhile, households’ views towards their future finances remained unchanged after a 1.2% fall last week. Both sub-indices remain well above their long run averages.
- Household views on whether ‘now is a good time to buy a household item’ fell 0.7% following the 1% fall last week.
“Last week’s data on the labour market were a touch disappointing and have likely weighed on confidence, especially on households’ views on the economic outlook. The RBA has highlighted the recent loss of momentum in the labour market, which along with moderating business conditions, does warrant close monitoring. The fall in the Australian dollar last week may also have dented confidence.
"While both sub-indices on the economic outlook fell sharply last week, confidence in economic conditions over the next 12 months has been trending higher and is now around its long run average.
"Stepping back from the recent volatility in the index, consumer confidence remains well above its long run average. This is consistent with an economy growing around trend, a buoyant housing market, and accommodative monetary conditions.”
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 November 14-20, 2016
- Two people have been killed after a magnitude-7.8 earthquake struck near Christchurch in New Zealand this morning
The Federal Government has been urged by the United Nations refugee agency to find a solution for all asylum seekers on Manus Island and Nauru
Angela Merkel set to announce bid for fourth term
Indigenous Australians' wellbeing 'stagnating or worsening': report
IMF points to housing as Australia's key financial risk
Young offenders riot at Melbourne juvenile jail for second night
NSW Deputy Premier to face Nationals leadership spill
Prime Minister Malcolm Turnbull calls on fellow world leaders to make a commitment to open economies and free trade at the APEC Summit in Peru, after failing in his bid to make the point to the US President-elect in New York
US officials arrive in Australia to assess asylum seekers
Turnbull arrives at APEC Summit after failed bid at Trump meeting