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.
ANZ Head of Australian Economics Felicity Emmett commented:
- 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-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."
Click 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.
The week that was - April 11-17, 2016
- Federal Parliament will convene for three weeks from Monday for a special sitting to consider the Australian Building and Construction Commission (ABCC) and the Registered Organisations bills. Crossbench senators are facing the threat of a double-dissolution election if the bills do not pass.
- About 90 children to be returned to Nauru, Dutton confirms
Immigration Minister Peter Dutton confirms dozens of children will be returned to Nauru, one day after announcing there were no children in mainland detention.
- Birmingham promises more on higher education changes before polls
Federal Education Minister Simon Birmingham says more details of the Government's higher education policy will be unveiled before the election, as he recommits to de-regulating the sector.
- Public education group calls for school funding agreements to be reviewed, simplified
A national group representing parents and students in public education calls for the complex web of school funding agreements to be reviewed and simplified.
- Tara Brown and 60 Minutes crew detained in Lebanon
A crew from the current affairs program is detained while filming a story in Beirut believed to be about the recovery of two Australian children taken there by their Lebanese father.
- Labor calls for national steel industry plan amid potential 'catastrophe' concerns
Federal Opposition Leader Bill Shorten calls for a "nationalistic" approach to ensure the local steel industry remains part of Australia's economy, amid concern substandard foreign steel could precipitate a "national catastrophe" in the country.
- Earmarked East West Link funds to go towards Monash Freeway, M80 upgrades
The Federal Government will contribute $500 million to an upgrade of the Monash Freeway, using funds earmarked for the East West link.
- Labor takes aim at big banks, promising royal commission
Federal Opposition Leader Bill Shorten announces an incoming Labor government would hold a royal commission into misconduct in the banking and financial services industry.
- Foreign real estate investment jumps 75pc in a year
- Palmer's Queensland Nickel referred to corporate watchdog
Clive Palmer's Townsville refinery could have survived the drop in nickel prices if millions of dollars had not been shifted from it to the federal MP's other businesses, administrators say.
- Target to shut Geelong headquarters, up to 180 jobs axed
Target will move its Geelong headquarters to Melbourne, with up to 180 jobs to be cut and hundreds more expected to be moved from the Victorian city.
- Bronwyn Bishop dumped in pre-selection defeat
Bronwyn Bishop's parliamentary career looks to be over after the former speaker was dumped by Liberal preselectors in her Sydney seat of Mackellar. Former Liberal staffer Jason Falinski defeated Ms Bishop 51 to 39 in a meeting lasting five-and-a-half hours.