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ANZ-Roy Morgan Australian Consumer Confidence ends 2017 on a high at 116.5

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 964 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend December 16/17, 2017.

ANZ-Roy Morgan Australian Consumer Confidence ended the year at 116.5 with a 1.2% bounce this week. The details were positive, with all sub-indices except ‘time to buy a household item’ posting gains.

  • Sentiment towards both current and future economic conditions rose for the third straight week (2.4% and 1.1% respectively). This and other gains are indicative of the sustained turnaround in overall sentiment since the low for the year in August.

  • Views towards current financial conditions jumped a solid 3.6% last week, more than offsetting the 2.7% fall previously. Views towards future financial conditions improved 0.5% last week, following a 2.8% fall in the previous week. Both sub-indices currently sit above their long-term averages.

  • Sentiment around the ‘time to buy a household item’ fell 1.2% last week. Inflation expectations remained stable at 4.5% in four week moving average terms.
ANZ’s Head of Australian Economics, David Plank, commented:

“ANZ-Roy Morgan Consumer Confidence ended the year with a broad based increase, likely fuelled by last week’s bumper jobs report, another strong performance by the Australian cricket team and some good ol’ Christmas cheer.

"Broadly, after a sustained decrease in the first half of 2017, confidence has recovered substantially, most recently due to an upswing in sentiment around economic conditions. Views towards overall economic conditions are now at their highest point in 2017, and within striking distance of their long term average. This likely reflects the extraordinary labour market performance through the year, and a pickup in activity over the second half.

"That said, even as views towards economic conditions have bounced, confidence in financial conditions, particularly in the near term, has faltered. This reflects a number of headwinds consumers have faced in 2017, particularly persistently weak wage growth and high household debt. As such, we believe that, a pick in wage growth is the key to a further improvement in confidence over 2018.”

ANZ-Roy Morgan Australian Consumer Confidence - December 19, 2017 - 116.5
ANZ-Roy Morgan Australian Consumer Confidence - December 19, 2017 - 116.5

ANZ-Roy Morgan Australian Consumer Confidence Rating - December 19, 2017 - 116.5

Click here to view the PDF of the latest ANZ-Roy Morgan Weekly Consumer Confidence Release.

Latest ANZ-Roy Morgan Consumer Confidence Releases

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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.

The week that was December 11-17, 2017

  • Optus to compensate 8,700 customers for slow NBN speeds

  • Chinese billionaire paid $55,000 for lunch with Shorten

  • Relief for Turnbull Government after Liberals claim victory in Bennelong

  • The sanctity of the religious confessional would be tossed aside and celibacy would become voluntary under 189 new recommendations delivered by the Royal Commission into Institutional Responses to Child Sexual Abuse.

  • Cricket Australia boss says 'no evidence' players are trying to rig the Ashes

  • Westpac to refund $11m to overcharged interest-only mortgage customers

  • CBA admits 53,000 breaches of money laundering rules, expects more charges

  • 'Attempted terrorist attack' rocks New York commuter hub, one suspect in custody

  • Nanango MP Deb Frecklington will lead the Liberal National Party in Queensland with former NRL referee Tim Mander by her side.

  • Optus to compensate 8,700 customers for slow NBN speeds