Back To Listing
ANZ-Roy Morgan Consumer Confidence Back to Recent Highs
June 16 2015
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,024 face-to-face interviews conducted Australia-wide with men and women aged 14 and over last weekend June 13/14, 2015.
ANZ-Roy Morgan Consumer Confidence rose 2.1% to 114.5 last week, reversing the falls in the previous three weeks. Confidence now stands above the long run average and just a touch below the post-Budget reaction.
ANZ Co-Head of Australian Economics Felicity Emmett commented:
- The rise last week was driven by an improved view of the outlook on the economy and finances. The sub index on ‘finances in the next year’ rose 3.6%, ‘economic conditions in the next twelve months’ rose 4.1%, and ‘economic conditions in the next five years’ rose 4.3%. However, overall views on the outlook remain at subdued levels (Figure 3) driven mainly by economic conditions, rather than finances (which remain above long term average).
- Contrary to the outlook, views on current conditions were flat to down. There was a small rise in ‘time to buy a household item’ (0.2%), whereas ‘finances compared to a year ago’ fell 0.8%.
“ANZ-Roy Morgan Consumer Confidence bounced last week, reversing almost all of the fall in the previous three weeks. The bounce in employment numbers and the fall in the unemployment rate seems to have sent a positive signal, which is being reflected in consumers’ view towards future financial and economic conditions. While a lift in consumer expectations is an encouraging sign, they remain well below long run averages and a sustained bounce is required to generate stronger growth in household spending. While weak wages growth is helping to support better employment outcomes, it is difficult to see how an economy growing below trend can continue to create enough jobs to absorb solid growth in the labour force."
Gary Morgan, Executive Chairman, Roy Morgan Research:
"Although at a higher rate than the ABS, Roy Morgan unemployment fell to 10.3% (down 0.1%) in May - a total of 1.289 million unemployed Australians. In addition there are also a further 1.021 million (8.2%) of Australians who are currently under-employed.
"It is for this reason that Consumer Confidence is not higher, the ALP is in front in polls - the latest Morgan Poll shows the ALP 54.5% cf. L-NP 45.5% on a two-party preferred basis, and interest rates should drop further."
Click to view the PDF of the 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.