This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,093 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend July 2/3, 2016.
ANZ-Roy Morgan Australian Consumer Confidence edged 0.9% to 115.8 this week, following a 1.7% fall the previous week. Uncertainty related to the Federal Election and concerns over the global outlook are likely to have been key factors behind the decline last week. The details of the report were mixed.
ANZ Head of Australian Economics Felicity Emmett commented:
- Consumers’ views of their current finances edged 1.6% lower, whereas views towards future finances dipped 5.1%. Overall, consumers’ views towards their personal finances remain well above their long-run average.
- Consumers were more optimistic about the economic outlook. After falling sharply last week, households’ view of the 12 month economic outlook bounced 4.7%, while views towards the economic outlook in the next 5 years rose 1.7%. Consumers’ views towards the economic outlook have been on an upward trend since the start of the year, although they remain well below their long-run average.
- Consumers’ views towards whether ‘now is a good time to buy a major household item’ fell 2.5%.
“ANZ-Roy Morgan Consumer Confidence has edged lower in the past two weeks after reaching a two-and-a-half year high. While the recent turmoil in financial markets has likely played a part, we believe that a larger contributing factor in this week’s fall is likely to have been uncertainty related to the Federal Election.
"Over the coming weeks, confidence could be affected if the government fails to secure a majority and a minority government proves difficult to form. This uncertainty around the political outlook will likely remain a key influence on household confidence in the near term.”
Click here to view the PDF of the latest ANZ-Roy Morgan Weekly Consumer Confidence Release.
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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 June 27 - July 3, 2016
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