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ANZ-Roy Morgan Australian Consumer Confidence up 2% this week to 114.8 despite political uncertainty

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,031 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend November 11/12, 2017.
ANZ-Roy Morgan Australian Consumer Confidence bounced 2.0% to 114.8 this week, its highest level in seven weeks. The rise was primarily driven by a lift in sentiment towards economic conditions, only slightly offset by a fall in sentiment towards current financial conditions.

  • Households’ views towards both current and future economic conditions rose solidly, 3.5% and 7.0% respectively. Views towards current conditions are at their highest point in 14 weeks.

  • Meanwhile, households’ were slightly more pessimistic (-0.9%) regarding the state of their current finances. Encouragingly, their views towards future conditions remained unchanged last week following three consecutive falls. The four week average for the ‘financial situation next year’ subindex currently sits under its long term average (122.6 vs 123.4).

  • The ‘time to buy a major household item’ index rose 1.0% last week, more than reversing the previous week’s 0.5% fall.

  • The weekly value for inflation expectations bounced back to 4.5% last week after coming in at 4.3% the previous week.
ANZ’s Head of Australian Economics, David Plank, commented:

“Consumers appear to be more upbeat after the Melbourne Cup carnival last week. In particular, the improvement in views towards economic conditions despite the current political uncertainty is quite encouraging. Indeed overall economic conditions have broadly trended up since the recent low in mid-September, with sentiment towards current economic conditions recovering to its long term average. This likely reflects ongoing labour market strength.

"Wage and employment data out later this week are likely to drive confidence in the near term. We expect an uptick in Q3 wages due to the larger-than-usual minimum wage hike and a positive number on the employment front, suggesting that confidence should receive some support even as political uncertainty rises.”

ANZ-Roy Morgan Australian Consumer Confidence Rating - November 14, 2017 - 114.8

ANZ-Roy Morgan Australian Consumer Confidence Rating - November 14, 2017 - 114.8

ANZ-Roy Morgan Australian Consumer Confidence Rating - November 14, 2017 - 114.8

Click here 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 November 6-12, 2017

  • 26 parishioners dead after gunman opens fire in Texan church massacre

  • Rekindling's Melbourne Cup a victory for son over father

  • RBA edges down growth outlook, sees gradual inflation rise

  • Hezbollah leader Sayyed Hassan Nasrallah says Saudi Arabia has declared war on Lebanon and his Iran-backed group, accusing Riyadh of detaining Lebanese Prime Minister Saad al-Hariri and forcing him to resign to destabilise the country.

  • John Alexander resigns amid deepening citizenship crisis for Government

  • Australian psychiatrist Greg Keane is helping Iraqi survivors traumatised by war, Islamic State horrors, and the daily struggle for food and money.

  • Abbott's sister's clothes torn in 'awful, scary' scuffle with Manus protesters

  • ANZ and NAB to pay $100m to settle rate-rigging case

  • Telstra to compensate 42,000 customers for slow NBN speeds

  • Australian shares hit an almost 10-year high

  • RBA leaves rates on hold at record low of 1.5 per cent