Roy Morgan’s weekly consumer confidence number is out and shows virtually no improvement following the election result:
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The weekly Roy Morgan Consumer Confidence Rating has risen to 121.3 (up 0.4pts in a week since August 31/ September 1, 2013). The small rise in Consumer Confidence is driven by an increase in confidence about Australians’ personal financial situations over the next 12 months.
Now 43% (up 4%) of Australians expect to be ‘better off’ financially this time next year compared to just 12% (unchanged) that expect their family to be ‘worse off’ financially.
Also 42% (up 2%) of Australians expect the Australian economy to have ‘good times’ over the next five years (the highest since January 29/30, 2011) compared to 17% (up 2%) that expect ‘bad times’ for the Australian economy.
Now 35% (down 1%) of Australians expect ‘good times’ economically over the next twelve months compared to 24% (up 1%) that expect ‘bad times’ for the Australian economy.
Given the big rise in the NAB survey today for the month prior to the election, it looks like most of the confidence boost has been priced in advance as the result became clear.
