ANZ-Roy Morgan consumer confidence rebounds

ScreenHunter_15 Mar. 18 16.24

By Leith van Onselen

The ANZ-Roy Morgan Research (RMR) weekly consumer confidence index was released yesterday evening, which recorded a solid bounce after three consecutive weeks of falls.

Over the week ended 8/9 March, the RMR index rose by 3.8 points to 113.4 to be 2.2% lower over the month, 7% below a year ago, and in line with the long-run average (see next chart).

ScreenHunter_1668 Mar. 13 19.12

The internals over March were broadly weak:

  • The sub-index most correlated with household consumption – ‘better off financially compared to a year ago’ – fell over March. While it remains higher than levels seen in recent years, this sub-index has not shown any significant improvement over the past six months.
  • All other sub-indices fell over March, except for ‘time to buy a household item’ which rose.
  • The sub-indices most correlated with labour market indicators weakened.

Here’s how the ANZ-RMR consumer confidence index is now tracking against the monthly Westpac-Melbourne Institute consumer sentiment index, which registered a fall over March:

ScreenHunter_1669 Mar. 13 19.27

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One Response to “ “ANZ-Roy Morgan consumer confidence rebounds”

  1. Explorer says:

    Wait till 2015 for a fall in confidence as employment and wage share fall.