Consumer confidence edges up: ANZ

Consumer confidence edged up marginally over the weekend as respondents felt optimistic about their finances despite gloom about the economy at large.

The ANZ-Roy Morgan Australian Consumer Confidence index gained 0.1 per cent from the previous week, with respondents’ perception of the country’s current economic conditions – including the outlook for the next 12 months – down 6.9 per cent but the “time to buy a household item” metric jumping 6.1 per cent.

There was a 5.0 per cent drop in respondents’ views about conditions for the Australian economy over the next five years.

The weekly measure of sentiment, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, recorded a 4.7 per cent increase regarding people’s current financial conditions and a 0.2 per cent rise about their financial conditions over the next year.

“People were much more positive on their own financial circumstances but unsure about the economic outlook,” ANZ economist David Plank said.

“This may reflect the way lower interest rates are being perceived: positive at the individual level for many (though not all), but the fact that interest rates need to fall is possibly raising concerns about the economic fundamentals.”

Consumer anticipation of inflation also crept up slightly according to the survey released on Tuesday.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Do you offer staff the opportunity to earn degrees/certifications while working at your business?
Vote

Twitter

Nominations for 2020 Retailer Awards are officially open! Tag retailers you believe provide exceptional customer ex… https://t.co/wkhQq3UjFE

6 days ago

Retail industry bodies including @OZretailers and @retailaustralia are calling on @QldGov to abandon plans to make… https://t.co/8u1zPN0CAg

1 week ago

At the @OZretailers national retail awards! Looking forward to see who takes what! #retail #nra #awards https://t.co/T9ZlkgQaFm

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered