Roy Morgan Consumer Confidence eases

From Roy Morgan:

Consumer Confidence has fallen to 115.7pts (down 1.3pts in a week), according to the Roy Morgan Consumer Confidence Rating conducted last weekend (February 11/12, 2012). Consumer Confidence is now 6.2 points lower than a year ago, February 12/13, 2011 (121.9).

The decrease in Consumer Confidence is due mainly to Australians being more worried about Australia’s economy over the next twelve months and also about buying major household items.

Australians are less confident about Australia’s economy over the next twelve months with 31% (up 3%) of Australians expecting ‘bad times’ economically over the next twelve months compared to 31% (down 1%) of Australians expecting Australia to have ‘good times’.

A decreasing majority of Australians 57% (down 3%) say now is a ‘good time to buy’ major household items compared to 18% (up 2%) that say now is a ‘bad time to buy’.

The survey was conducted last weekend so includes some of the bank rate rises. Released earlier this week, the Westpac survey showed a rise in confidence, but only partially included the RBA hold and none of the bank moves.

Comments

  1. Roy Morgan lacking some credibility at the minute. Maybe he surveyed the same people who reported they were unemployed 🙂

    • What a quarter before jumping to such conclusions. With all the announcements of job losses around, unemployment could jump quite sharply in coming months. That’s not a prediction, just an observation based on the spate of recent announcements across finance, retailing and other industries.

      • Gittins will set you right there guys. You’re just soft-minded fools, too easily influenced by the daily headlines.

        According:

        You need the steel-trap mind of an economist to say to yourself: ”These stories I’m hearing about layoffs here and there are sad news for the individuals involved, but they don’t really prove anything. To make a balanced assessment of what’s happening in the labour market I need aggregate statistics, not anecdotes – and the last stats I saw said that, overall, employment is growing sufficiently to hold the unemployment rate steady at 5.2 per cent.”

      • “the last stats I saw said that, overall, employment is growing sufficiently to hold the unemployment rate steady at 5.2 per cent.”

        Translation: the last stats said that, despite population growth, both the number of people employed and the labour force stayed steady, so the unemployment rate didn’t change.

      • Seriously, I can’t believe you edited out “According to the Big Git”. What’s next? Poo, bum, wee?

      • A bit harsh probably but have to draw the line somewhere Lorax – play the ball, not the man, even if what he states is complete rubbish. In your opinion.

        If I let “the big git” through then what? Don’t want the comment threads to spiral into rabid attacks and jibes etc. I’ll leave that to the troll nest.

  2. No-one can take Morgan seriously anymore. Clearly he’s a perma-bear who just makes up his numbers to suit his agenda.

    If you want the truth, read Joye or Mad Adam.