This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 941 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend April 15/16, 2017.
The headline ANZ-Roy Morgan Australian Consumer Confidence fell 1.9% this week to 112.6 partly reversing the previous week’s gain. This dragged the index back down below its long run average.
ANZ’s Senior Economist Felicity Emmett commented:
- The performance of the sub-indices was largely negative with only one of the five subindices recording a rise. Households’ expectations for economic conditions next year fell 1.9%, while expectations for economic conditions over the next five years dropped a sharp 4.1%, to be at its lowest level since September 2015.
- Households’ views towards their current finances fell a modest 0.7%, while views about future finances improved 2.7%, to the highest level since February.
- The ‘good time to buy a household item’ index registered a sharp 5.1% drop, following five consecutive weekly gains.
- Inflation expectations were unchanged at 4.3%, with the four week moving average holding steady at 4.3%.
“The drop in headline ANZ-Roy Morgan Australian Consumer Confidence comes despite the strong labour market report released last week and ongoing strength in the housing market. Rising geopolitical risks, however, have impacted the local share market and are likely feeding through to households’ concerns about the economic outlook.
"Moreover, the RBA’s focus and the associated media spotlight on the exuberance in house prices in Sydney and Melbourne as well as high levels of household debt is possibly feeding into concerns about the outlook. For some time, we have worried that households could decide to rein in consumption growth in response to the combination of low wage growth and rising household debt. The recent decline in confidence and the weakness in retail sales suggest this may be occurring.
"In our view, a reassertion of the downward trend in the unemployment rate along with some improvement in wage growth will likely be required to materially lift consumer confidence.”
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 10-16, 2017
US warships diverted to Korean Peninsula amid North Korea nuclear threat
New South Wales Premier Gladys Berejiklian is playing down massive swings against the Liberal Party in three by-elections in the state on Saturday.
'Enough is enough': Betts says racism 'wrecking' AFL
Mother of all bombs': US drops biggest non-nuclear weapon ever used
Family First's Lucy Gichuhi set to replace Bob Day in Senate
Tillerson warns US-Russia relations 'at low point' after meeting Putin
North Korea warns of nuclear strike on US
Labor says it won't back proposals to let young Australians dip into their super to raise cash for house deposits, after Treasurer Scott Morrison signaled support for the controversial idea which critics say will just drive up house prices.