Author: roymorgansocial

ANZ-Roy Morgan Consumer Confidence up 3.2pts to 78.2 – as perceptions of personal finances improve

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Aug-23

ANZ-Roy Morgan Consumer Confidence rose 3.2pts to 78.2 in the week to 13 August. Despite this week’s improvement, the index has now spent a record 24 straight weeks below the mark of 80. Consumer Confidence is now 6.2pts below the same week a year ago (84.2), and in line with the 2023 weekly average of 78.2. Consumer Confidence increased in Victoria, Queensland, Western Australia and South Australia, but it was down slightly in New South Wales. Now 21% of Australians (up 4ppts) say their families are ‘better off’ financially than this time last year, while 53% (down 4ppts) say their families are ‘worse off’ financially. Some 31% (up 3ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 34% (down 4ppts) expect to be ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 36% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 57% (up 3ppts) say now is a ‘bad time to buy’.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

July monthly Inflation Expectations were unchanged at 5.6% – but have now dropped to 5.2% in mid-August

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Aug-23

In July 2023, Australians expected inflation of 5.6% annually over the next two years, unchanged from June. This also matches the Inflation Expectations of four months ago in March 2023, but is down 0.3% points from a year ago in July 2022 (5.9%). Although Inflation Expectations have been stable over the last few months they have fallen during the early weeks of August. The latest weekly Inflation Expectations are now at 5.2% in mid-August, down for two consecutive weeks since late July – the first consecutive weekly drops in the measure since late April. The softening in Inflation Expectations in recent weeks suggest that the Reserve Bank’s decision to leave interest rates unchanged in July and August may be the correct decision; however, there are still significant pressures in the economy. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 5,000 Australians aged 14+ per month over the last decade and includes interviews with 5,968 Australians aged 14+ in July.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

RBA warns job market may be about to sour

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Original article by Michael Read, Tess Bennett
The Australian Financial Review – Page: 4 : 16-Aug-23

The minutes of the Reserve Bank of Australia’s board meeting for August show that it considered increasing the cash rate to 4.35 per cent. However, indications that the jobs market may at a "turning point" are among the reasons why the board opted for a second successive monthly pause. The RBA cited factors such as a small rise in the official underemployment rate, a fall in hiring intentions and improved labour availability as signs that the jobs boom may be coming to an end. Meanwhile, economists say weaker-than-expected wages growth will strengthen the case for the cash rate to remain on hold for an extended period.

CORPORATES
RESERVE BANK OF AUSTRALIA

$100m play looms for World Cup TV rights

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Original article by John Stensholt, Jessica Halloran
The Australian – Page: 5 : 16-Aug-23

Optus is believed to have paid up to $30m for the broadcasting rights to the 2023 FIFA Women’s World Cup. It has also on-sold the free-to-air rights to selected matches to Seven West Media for about $4m. FIFA has set a deadline of 19 September to submit bids for the local broadcasting rights to the next men’s and women’s World Cup tournaments; it is believed to be seeking up to $100m for the rights, following the ratings success of the 2023 Women’s World Cup. Optus, SBS and the three commercial free-to-air networks are expected to submit bids.

CORPORATES
FEDERATION INTERNATIONALE DE FOOTBALL ASSOCIATION, SINGTEL OPTUS PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, SPECIAL BROADCASTING SERVICE (SBS)

What ABC viewers complained about

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Original article by Calum Jaspan
The Age – Page: Online : 16-Aug-23

The ABC’s ombudsman Fiona Cameron has revealed that the public broadcaster received a total of 11,440 complaints during the first half of 2023. Some 13 per cent related to the ABC’s editorial standards; this compares with 15 per cent across the previous three calendar years, when the ABC received an average of 23,767 complaints in total each year. Meanwhile, the proportion of complaints that were upheld rose to eight per cent in the first half of 2023, compared with an average of five per cent across the previous three years.

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abc (aus tv) see AUSTRALIAN BROADCASTING CORPORATION

IR laws to help workers by closing loopholes

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Original article by Ewin Hannan
The Australian – Page: 2 : 16-Aug-23

Data from the Australian Bureau of Statistics show that wages increased by 0.8 per cent in the June quarter, the same pace as the two previous quarters. Wages growth eased to 3.6 per cent in the year to June. Workplace Relations Minister Tony Burke says that after 11 quarters of wages not keeping up with prices, the moderating inflation rate has caught up with wages growth. He adds that while the federal government’s first tranche of industrial relations reforms in 2022 were aimed at lifting wages across the board, the second tranche is aimed at closing loopholes that affect the wages of individual workers. Burke says the reforms will have a "very modest" economy-wide impact on wages.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

One-in-seven Australians (3.1 million) live in a house with a swimming pool or spa

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Aug-23

New research from Roy Morgan shows that more than 3.1 million Australians (14%) now live in a house with a swimming pool or spa; this is up slightly from 13% when Roy Morgan last looked at the prevalence of swimming pools and spas around Australia in late 2018. The research, which was undertaken in the three months to March 2023, shows that 19% of Brisbane residents live in a house with a swimming pool or spa, compared with 17% of Perth residents and 16% of Sydney residents. Swimming pool ownership is below the national average in other capital cities. Adelaide is just below the national average on 13% while only 11% of Canberra residents and 9% of Melbourne residents live in a house with a swimming pool or spa. People in regional Queensland have the highest level of swimming pool or spa ownership, at 24%.

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ROY MORGAN LIMITED

Melbourne retains top spot as preferred holiday destination as Sydney overtakes Gold Coast for second place

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Aug-23

Research from Roy Morgan shows that more than 14.6 million Australians aged 14+ (67.7%) would like to spend at least one night in the next two years at a domestic holiday destination. Melbourne has retained top spot as the preferred holiday destination, with 2,977,000 Australians aged 14+ expressing a preference to stay at least one night in the Victorian capital on a trip in the next two years; this is up more than 800,000 from two years ago, in the middle of the COVID-19 pandemic. Sydney is now Australia’s second-most preferred destination, mentioned by 2,905,000 Australians (up more than 900,000 from two years ago). The Gold Coast, which soared to first place in popularity during the pandemic, has now dropped back to third position with 2,647,000 Australians mentioning travelling to the city in the next two years.

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ROY MORGAN LIMITED

Call for fresh Morrison probe over Robodebt

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Original article by Rhiannon Down
The Australian – Page: 5 : 9-Aug-23

Greens MP Stephen Bates says former prime minister Scott Morrison appears to have deliberately made false statements about the robodebt scheme in order to mislead parliament. Bates contends that Morrison allowed robodebt to remain in place despite clear advice that the scheme was illegal. The Greens have introduced a motion in the lower house to refer Morrison to the privileges committee over his role in the robodebt scandal. A royal commission into the robodebt scheme made a number of adverse findings against Morrison.

CORPORATES
AUSTRALIAN GREENS

Labor leaders aiming for national plan to boost renters’ rights

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Original article by David Crowe
Brisbane Times – Page: Online : 9-Aug-23

The upcoming national cabinet meeting in Brisbane will discuss a proposal to increase the rights of rental housing tenants. Prime Minister Anthony Albanese will put the national plan to state and territory leaders next week, although each jurisdiction would ultimately determine their own rules based on a broad framework. Albanase will also seek other options for addressing the housing crisis due to a stalemate with the Greens over the federal government’s Housing Australia Future Fund.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN GREENS