This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,026 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend May 6/7, 2017.
ANZ-Roy Morgan Australian Consumer Confidence ticked up a modest 0.9% this week to 112.3 - just below its long term average.
ANZ’s Head of Australian Economics, David Plank, commented:
- Households’ views towards the economic outlook, both near and long term, posted solid increases of 5.0% and 4.9% respectively. The five year economic outlook is now at its highest value since mid-February, though both are still well below their long term average.
- Households’ views towards their finances were mixed. Confidence around current finances fell 3.3%, more than offsetting the 2.6% rise the previous week. Meanwhile, views about future finances rose a modest 1.2%, partially reversing its previous 3.6% fall.
- The ‘good time to buy a household item’ continued on its downward trajectory, falling 1.7% to its lowest level since early 2016.
- While the weekly measure of inflation expectations ticked down to 4.4% from 4.6% last week, the four week moving average remains unchanged.
“The stabilisation in ANZ-Roy Morgan Australian Consumer Confidence after a period of trend decline is encouraging, albeit at levels below the long term average. This stabilisation may be a sign of an improving labour market. ANZ Job Ads and other business surveys point to further gains in employment in coming months, following on from the strong result in March.
"While sentiment towards financial conditions has risen from the recent lows, it is unlikely to recover to the levels seen in the second half of 2016, any time soon. As pointed out by the RBA, household balance sheets are somewhat stressed because of high levels of debt and low wage growth. The outlook for spending remains under pressure as households adjust to this reality.
"Today’s retail sales release should provide more information on this front. We expect only a modest pickup in March, following the fall in February. We will then look to see whether this evening’s Budget provides any reason to expect a major move in household sentiment.”
Click to view the PDF of the latest ANZ-Roy Morgan Weekly Consumer Confidence Release.
Latest ANZ-Roy Morgan Consumer Confidence Releases
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
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 May 1-7, 2017
Adelaide woman detained in Colombia after being found with 6kg of cocaine
Labor backtracks on support for Adani coal mine
Prime Minister Malcolm Turnbull confirms the Government will ban gambling advertising before 8:30pm during live sporting events, and for five minutes before and after the start of play.
Coates sees off AOC presidency challenge after bitter campaign
The reason house prices are high is because interest rates are so low, says a leading economist, who warns the Government should not "leave people with the impression that they can solve housing affordability".
Donald Trump, Malcolm Turnbull meeting looks like an attempt to mend fractures
After seven decades of service and gaffes, Prince Philip puts his feet up
Trade surplus narrows to $3.1 billion as imports outpace exports
RBA holds interest rates at historic low
PM announces 'Gonski 2.0' schools review, funding boost
Chinese investment in Australia at highest point since GFC