Consumer Confidence is at 108.3pts (up 0.1pts in a week) according to the Roy Morgan Consumer Confidence Rating conducted last weekend (May 26/27, 2012). Consumer Confidence is now 4.4pts lower than a year ago May 28/29, 2011 (112.7).
Australians have gained a little confidence over the past week about their personal finances over the next 12 months with 36% (up 1%) saying they expect their family to be ‘better off’ financially while 24% (down 1%) expect to be ‘worse off’.
Now 28% (down 1%) of Australians say their family is ‘better off’ financially compared to a year ago while 34% (up 3%) say their family is ‘worse off’ financially.
An increasing majority of Australians 54% (up 1%) say now is a ‘good time to buy’ major household items while 20% of Australians (unchanged) say now is a ‘bad time to buy’ major household items.
An unchanged 32% of Australians expect Australia’s economy to have ‘good times’ economically over the next five years compared to 23% (down 1%) that expect ‘bad times’.
Australians confidence is unchanged about Australia’s economy over the next twelve months with 27% (down 1%) of Australians expecting ‘good times’ economically over the next twelve months compared to 35% (down 1%) that expect Australia to have ‘bad times’.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
