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ANZ-Roy Morgan Australian Consumer Confidence Edges Down
-
June 23 2015
- Finding No.
6310
- Topic:
Consumer Confidence Press Release
- Country:
Australia
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,136 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend June 20/21, 2015.
ANZ-Roy Morgan Consumer Confidence edged down 0.4% to 114.0 last week. The four week moving average, however, is now at 113.5, the highest level since November last year, reflecting the more positive reaction to the Commonwealth Budget.
- The fall last week was driven by consumers’ expectations of the outlook. Confidence in the economic outlook over the next year and next five years fell around 4%, reversing the gains of the previous week. Views of household finances over the next year fell a more modest 1.1%.
- On the other hand, consumers felt more positive about current conditions. The sub-index, ‘time to buy a major household item’ rose to the highest level since August last year. For the first time in four weeks, there was an increase in the sub-index ‘finances compared to a year ago’ (+5.3%).
ANZ Chief Economist Warren Hogan commented:
“Consumer expectations of the outlook remain subdued. We expect this is due at least in part to concerns about future income and employment growth. This uncertainty may be feeding into more cautious consumer behaviour which is evident in ongoing high rates of mortgage repayments. Reduced willingness to increase debt is likely to be reducing the efficacy of monetary policy and contributing to softer consumption growth. As such, a sustained lift in expectations is crucial to building consumer confidence, which will encourage an improvement in spending.”
Click to view the PDF of the 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.