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ANZ-Roy Morgan Australian Consumer Confidence rises 0.3% to 117.8
October 18 2016
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 972 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend October 15/16, 2016.
ANZ-Roy Morgan Australian Consumer Confidence edged up 0.3% to 117,8 this week, reversing the 0.3% fall last week. While the headline index has changed little over the past two weeks, there has been considerable variation in the sub-indices.
ANZ Head of Australian Economics Felicity Emmett commented:
- Consumers’ views towards their current finances fell 2.4% last week, while views towards future finances rose 1.0%. Both of these subindices remain well above their long run averages.
- Consumers are slightly more confident of the economic outlook with the 12-month outlook improving by 0.4%. The 5-year ahead outlook was largely unchanged (+0.1%) following a 0.7% rise last week.
- Household views on whether ‘now is a good time to buy a household item’ rose by a solid 2.0%.
“After two months of heightened volatility, consumer confidence was virtually unchanged for the second straight week.
"Confidence remains on an upward trend and well above its long run average. A strong housing market and a declining unemployment rate are clearly supporting overall confidence. The key for the broader economic outlook, though, is whether rising confidence can translate into stronger spending, particularly given the high level of household debt.
"The strength in the labour market remains a key driver of confidence. On this front, this week’s report on September employment and unemployment will be important for the near term direction of 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.
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