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ANZ-Roy Morgan Australian Consumer Confidence up 2% to 116.3 - highest in 18 months

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,071 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend June 27/28, 2015.
ANZ-Roy Morgan Consumer Confidence bounced 2% to 116.3 last week, reaching the highest level in 18 months. This builds on the positive reaction by consumers from the Commonwealth budget and puts confidence firmly on an upward trajectory.

  • The rise last week was driven by consumers’ views on the economy. The subindex ‘economic conditions in the next twelve months’ rose 5.7% and ‘economic conditions in the next five years’ rose 4.6%. The increase in overall confidence was further helped by consumers feeling positive about purchasing a household item, with the subindex on a ‘good time to buy a household item’ rising 2.1%, reaching its highest level in two years.

  • On the other hand, consumers’ views towards their finances were flat to down in the week, but remain above long run average levels.
ANZ Chief Economist Warren Hogan commented:

“ANZ-Roy Morgan Consumer Confidence reached an eighteen month high last week and is now clearly on an upward trend. Importantly, the sub components of the index relating to the economic outlook, which had previously been very weak, are rising strongly. In our view this is because of improving labour market conditions and reduced anxiety about job security and employment opportunities. In recent years interest rates and asset prices have had very little impact on trends in consumer confidence.

"It has been concerns about the labour market, incomes, and political leadership which have been driving factors. What is critical now for the Australian economy is this emerging consumer confidence to be sustained and translated into steady consumer demand and ultimately business confidence. The May Retail Sales report will be released by the ABS on Friday and will be closely watched by markets. Looking to the second half of the year, the state of labour demand and the level of unemployment will be central to the outlook for the economy and economic policy. The ANZ Job Ads data for June will be released next Monday ahead of the June employment report next Thursday. Both indicators will provide further guidance on the labour market and prospects for the Australian economy.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - June 30, 2015 - 116.3

ANZ-Roy Morgan Australian Consumer Confidence Rating - June 30, 2015 - 116.3

ANZ-Roy Morgan Australian Consumer Confidence Release - June 30, 2015 - 116.3

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.