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ANZ-Roy Morgan Australian Consumer Confidence Rebounds - up 3.8pts to 115.8

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 996 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend April 16/17, 2016.
ANZ-Roy Morgan Australian Consumer Confidence bounced 3.4% to 115.8 this week after falling nearly 4% over the previous four weeks. Good news about the Australian labour market and the business sector during the week is likely to have lifted sentiment, while a bounce in equity markets following falls in the previous three weeks is also likely to have boosted confidence.

  • The increase in confidence was largely driven by a bounce in consumers’ views towards the economic outlook. Views towards the ‘economy in the next 12 months’ bounced by a sharp 7.5%, and views towards the ‘economy in the next 5 years’ also rose strongly, up 5.2%.

  • Consumers’ views towards their own personal financial situation were mixed, with views towards the current financial situation bouncing 3.9% after having fallen 5.5% in the previous week. This was, however, partly offset by households’ views towards their future finances (‘finances in the next 12 months’) which fell 1.9%.

  • The sub-index on whether ‘now is a good time to buy a major household item’ rose a solid 3.7%.
ANZ Head of Australian Economics Felicity Emmett commented:
“ANZ-Roy Morgan Australian Consumer Confidence bounced last week after declining four weeks in a row, with this turnaround taking sentiment back above its long run average. Last week’s strong labour market report showing a fall in the unemployment rate to 5.7% is likely to have been a key factor in the rebound. The jobless rate is now at the lowest level in over two years, and we anticipate conditions will remain solid in the near term. The strength in business conditions, which are now back at their highest levels since the GFC, point to a solid labour market in the near term.

"While good news on the labour market and business conditions appear to have boosted confidence recently, the key is how confidences translates into spending. Household spending remains a key risk to the outlook, and as such confidence will be key to watch in the lead up to the Commonwealth Budget and what looks likely to be a July 2 double dissolution election.”

Gary Morgan, Executive Chairman, Roy Morgan Research, says:

"The increase in Consumer Confidence to 115.8 today is good news for the L-NP Government however the latest Morgan Poll released yesterday shows the L-NP 50% (down 2.5%) cf. ALP 50% (up 2.5%) in mid-April and the Roy Morgan Government Confidence Rating has plunged to its lowest point since Malcolm Turnbull became Prime Minister - now at 99 (down 7pts).

"In addition, last week's fall in the ABS unemployment rate sounds good but it is in fact misleading as the ABS consistently underestimates the real level of unemployment in the Australian economy - now at 11.0% (1,422,000) in March according to the latest Roy Morgan real unemployment estimates."

ANZ-Roy Morgan Australian Consumer Confidence Rating - April 19, 2016

ANZ-Roy Morgan Australian Consumer Confidence Rating - April 19, 2016

ANZ-Roy Morgan Australian Consumer Confidence Rating - April 19, 2016

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 - April 11-17, 2016

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