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ANZ-Roy Morgan Australian Consumer Confidence unchanged ahead of Federal Budget at 111.3
May 02 2017
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,216 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend April 29/30, 2017.
After two consecutive weeks of declines, ANZ-Roy Morgan Australian Consumer Confidence was virtually unchanged this week, up to 111.3 from 111.2 the previous week - just below its long-run average.
ANZ’s Head of Australian Economics David Plank:
- The uptick in confidence was underpinned by some improvement in households’ views towards the economic outlook. After falling sharply the previous week, households’ expectations for economic conditions in the next 12 months rose 2.0%; while expectations for economic conditions over the next five years also ticked higher, up 0.7% last week.
- Households’ views towards their finances were mixed: sentiment about current finances rose 2.6% last week; while views about future finances fell a sharp 3.6%.
- The ‘good time to buy a household item’ declined for the third consecutive week, edging 0.2% lower.
- Inflation expectations jumped to 4.6%, with the four week moving average edging higher at 4.4%.
“Despite last week’s uptick, household sentiment remains subdued. Confidence has averaged 112.2 in April, down from 113.2 in March, 116.7 in February and a high of 118.6 in January this year.
"Most of the fall in the average of the ANZ-Roy Morgan Australian Consumer Confidence Index for the month of April was driven by some deterioration in households’ optimism towards the longer-term outlook and concerns around the economy. While some weakness in sentiment was likely the result of rising geopolitical fears, more structural factors (high household debt, low wage growth) are likely weighing on confidence.
"In the coming week, the RBA statement and Budget-related news are likely to dominate. In recent years, the Budget has had a notable impact on consumers’ views towards the economy. We don’t expect any significant policy surprises that will hit households’ pockets in this year’s Budget, suggesting that any impact on confidence from this event may be modest.”
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 24-30, 2017
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One million Syrians in Lebanon desperate for healthcare
North Korea's ballistic missile launch fails amid rising tensions
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Turnbull, Trump lock in meeting on New York aircraft carrier
US missile-defence system on the move in South Korea
The conservative senator Cory Bernardi says he will leave "the door ajar" for potential defectors from other parties following the revelation his Australian Conservatives will merge with Family First.
Thousands mark Anzac Day in Gallipoli and Villers-Bretonneux
Shares, euro, Aussie dollar gain on French election result