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Monday, April 15, 2024

Shopper confidence secure – ANZ-Roy Morgan

Shopper confidence secure – ANZ-Roy Morgan | Australian Dealer Information

This previous to RBA’s pre-Price range meet

Consumer confidence stable – ANZ-Roy Morgan

The ANZ-Roy Morgan Shopper Confidence Index has remained just about unchanged at 81.7, marking 59 consecutive weeks beneath the 85-point threshold, reflecting extended client cautiousness.

Shopper confidence diversified throughout the states, with will increase in New South Wales and Queensland however decreases in Victoria, Western Australia, and South Australia.

Monetary circumstances report

Present monetary circumstances revealed that solely 18% (down 1ppt) of Australians really feel financially higher off than final 12 months, the bottom up to now this 12 months, with 52% (down 1ppt) feeling worse off.

Australians are break up on their monetary outlook for the subsequent 12 months, with 32% (down 1ppt) anticipating they will be financially higher off, whereas an equal share expects to be worse off (up 2ppt).

Financial outlook blended

Australians are divided on their monetary outlook for the subsequent 12 months, and short-term financial confidence is low, with solely 10% (down 1ppt) optimistic in regards to the economic system over the subsequent 12 months in comparison with 31% (unchanged) anticipating dangerous instances.

Medium-term financial confidence noticed a slight enchancment with 12% (up 1ppt) of Australians anticipating good instances for the economic system over the subsequent 5 years, versus the 20% (unchanged) anticipating dangerous instances.

Family buy intentions unchanged

Intentions to purchase main home items stay stagnant, with 20% seeing it as a great time to purchase and 49% viewing it as a nasty time.

Insights from ANZ economist

Madeline Dunk (pictured above), ANZ economist, supplied insights into the newest findings.

“ANZ-Roy Morgan Australian Shopper Confidence was broadly unchanged final week,” Dunk mentioned. “In the meantime, inflation expectations fell to their lowest degree since February 2022. That is more likely to be welcomed by the RBA, given the board’s deal with inflation expectations remaining anchored.”

Dunk additionally commented on particular segments.

“Confidence amongst households paying off a mortgage declined 6.4pts to its lowest degree this 12 months,” Dunk mentioned. “Confidence amongst renters stays weak… The scenario is a bit of higher for individuals who personal their residence outright, with confidence rising 5.5pts.”

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