Consumer Confidence is at 109.1pts (down 2.7pts in a week) according to the Roy Morgan Consumer Confidence Rating conducted on the weekend of July 14/15, 2012). Consumer Confidence is now only 1.1pts higher than it was a year ago, July 16/17, 2011 — 108.0.
The fall in this week’s Consumer Confidence has been driven mainly by less confidence about family financial situations over the next year and by less confidence in Australia’s short and longer term economic prospects.
Australians’ confidence about Australia’s economy over the next twelve months is down with 27% (down 3%) expecting Australia to have ‘good times’ economically over the next 12 months compared to 34% (up 1%) of Australians that expect ‘bad times’.
Over the next five years less Australians (33%, down 2%) expect Australia’s economy to have ‘good times’ economically compared to 24% (up 2%) that expect ‘bad times’.
Australians have less confidence about their personal finances over the next 12 months with 35% (down 2%) expecting to be ‘better off’ while 25% (up 3%) say they expect their family to be ‘worse off’ financially.
Gary Morgan says:
“Roy Morgan Consumer Confidence has fallen 2.7pts to 109.1 this week due to falling confidence about Australia’s economic prospects over the next 12 months and five years. Only 27% (down 3%) of Australians expect ‘good times’ for Australia’s economy over the next 12 months while fewer (33%, down 2%) expect ‘good times’ for Australia over the next five years.
“To increase Consumer Confidence it is vitally important Prime Minister Julia Gillard and Treasurer Wayne Swan work to unite business and the community to enjoy the benefits of the ‘Mining Boom’ rather than pursue policies which result in promoting a division — Mining Tax, Carbon Tax, restrictive industrial relations policy.
“Looking at a longer-term trend shows Consumer Confidence has been remarkably stable over the past 15 months in a narrow band between 105 and 120 since April 2011. This is a marked change to the large swings in Consumer Confidence during the most intense period of the Global Financial Crisis (2008 — 2010).
“Consumer Confidence ended 2007 at 126.8 before touching a weekly low of 87.3 in October 2008 and then rebounding to a weekly high of 130.1 two years later in October 2010 following extensive Government stimulus and large cuts to Australian interest rates.”
The fall in this week’s Consumer Confidence has been driven mainly by less confidence about family financial situations over the next year and by less confidence in Australia’s short and longer term economic prospects.
Australians’ confidence about Australia’s economy over the next twelve months is down with 27% (down 3%) expecting Australia to have ‘good times’ economically over the next 12 months compared to 34% (up 1%) of Australians that expect ‘bad times’.
Over the next five years less Australians (33%, down 2%) expect Australia’s economy to have ‘good times’ economically compared to 24% (up 2%) that expect ‘bad times’.
Australians have less confidence about their personal finances over the next 12 months with 35% (down 2%) expecting to be ‘better off’ while 25% (up 3%) say they expect their family to be ‘worse off’ financially.
Gary Morgan says:
“Roy Morgan Consumer Confidence has fallen 2.7pts to 109.1 this week due to falling confidence about Australia’s economic prospects over the next 12 months and five years. Only 27% (down 3%) of Australians expect ‘good times’ for Australia’s economy over the next 12 months while fewer (33%, down 2%) expect ‘good times’ for Australia over the next five years.
“To increase Consumer Confidence it is vitally important Prime Minister Julia Gillard and Treasurer Wayne Swan work to unite business and the community to enjoy the benefits of the ‘Mining Boom’ rather than pursue policies which result in promoting a division — Mining Tax, Carbon Tax, restrictive industrial relations policy.
“Looking at a longer-term trend shows Consumer Confidence has been remarkably stable over the past 15 months in a narrow band between 105 and 120 since April 2011. This is a marked change to the large swings in Consumer Confidence during the most intense period of the Global Financial Crisis (2008 — 2010).
“Consumer Confidence ended 2007 at 126.8 before touching a weekly low of 87.3 in October 2008 and then rebounding to a weekly high of 130.1 two years later in October 2010 following extensive Government stimulus and large cuts to Australian interest rates.”
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