Author: roymorgansocial

ANZ-Roy Morgan Consumer Confidence recovers slightly, up 2.3pts to 80.4

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Feb-23

ANZ-Roy Morgan Consumer Confidence rose 2.3pts to 80.4 in the week to 19 February. However, Consumer Confidence is still 21.4pts below the same week a year ago (101.8) and 3.9pts below the 2023 weekly average of 84.3. Consumer Confidence was up in all five mainland States and above 80 in Victoria, Western Australia and South Australia, but under 80 in New South Wales and Queensland. Now 22% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 47% (down 2ppts) say their families are ‘worse off’ financially. Some 30% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 34% (down 1ppt) expect to be ‘worse off’ financially. Only 6% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 37% (down 4ppts) expect ‘bad times’. Meanwhile, 20% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 51% (down 3ppts) say now is a ‘bad time to buy’.

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

Inflation Expectations dropped 0.7% points to 5.3% in January 2023 – the largest monthly fall on record

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Feb-23

In January 2023, Australians expected inflation of 5.3% annually over the next two years, down 0.7% points from December 2022. This is the largest monthly fall on record for Inflation Expectations and the largest two-month fall (-1.2% points). The early indications in February are that the decline in Inflation Expectations seen in January 2023 has continued, with the latest weekly reading falling to only 5.1%. A look at Inflation Expectations on a State-based level shows that the decline in Inflation Expectations was nation-wide in January; Inflation Expectations are now highest in Victoria at 5.5% (down 0.4% points from a month ago), Queensland at 5.5% (down 0.8% points) and South Australia at 5.5% (down 0.9% points). Looking at the Country/City divide shows large falls for each with Inflation Expectations in Country Areas at 5.8% (down 0.8% points on a month ago), still far higher than in Capital Cities at 5.1% (down 0.6% points). The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source which has interviewed an average of around 4,900 Australians aged 14+ per month over the last decade and includes interviews with 5,984 Australians aged 14+ in January 2023.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Busier-than-ever ASIO cracks hive of spies and other plots

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Original article by Andrew Tillett
The Australian Financial Review – Page: 2 : 22-Feb-23

ASIO director-general Mike Burgess has used his annual threat assessment to warn that espionage and foreign interference are now the intelligence agency’s main security concerns. He said this has resulted in ASIO being busier now than at any time in its history, with Australians being targeted by foreign espionage agencies more than ever before. Burgess also warned that defence contractors in particular are being targeted in the wake of the AUKUS deal to acquire nuclear-powered submarines, and a "small but concerning number" of veterans have been willing to sell military secrets and expertise to foreign governments. Burgess has revealed that ASIO has uncovered and deported members of a "hive" of highly-trained foreign spies.

CORPORATES
AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

Whatever it takes on Defence: PM

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Original article by Geoff Chambers
The Australian – Page: 1 & 2 : 22-Feb-23

Prime Minister Anthony Albanese will emphasise the importance of the AUKUS alliance in a major national security speech on Wednesday. He will stress that the alliance extends beyond nuclear submarines and technological interoperability, contending that it presents a "whole-of-nation" opportunity for new jobs, industries and expertise in sectors such as science and technology. Albanese will also state that the federal government will ensure that Australia’s defence forces have the resources that are needed to defend the nation and deter potential aggressors.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Coles warns on price rises as shoppers grab home brands

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 13 & 18 : 22-Feb-23

Coles Group has advised that CEO Steven Cain will step down on 1 May after five years in the role. He will be succeeded by Leah Weckert, who will be the first woman to run a major supermarket chain in Australia. Coles has posted a 2022-23 interim net profit from continuing operations of $616m, which is 11.4 per cent higher than previously; revenue rose four per cent to $20.59bn. The company has indicated that price inflation rose to 7.7 per cent across its product range in the December quarter, up from 7.1 per cent in the September quarter. However, Cain expects inflation to moderate in the second half of the financial year. Weckert notes that many consumers are switching to home-brand grocery products amid the cost-of-living pressures.

CORPORATES
COLES GROUP LIMITED – ASX COL

KIIS FM boss plays down Seven West tie-up talk

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Original article by Zoe Samios
The Age – Page: Online : 22-Feb-23

Listed media group HT&E has posted a statutory loss of $176.3m for calendar 2022. The result was marred by a $249.9m impairment charge on the value of its radio business. However, underlying EBITDA and revenue both rose by 53 per cent, to $91.8m and $344.9m respectively. There has been recent media speculation of a potential merger with Seven West Media, but HT&E CEO Ciaran Davis says he has not heard from Seven. He adds that HT&E would be an "absolute prime target" in the event of further consolidation in the media sector. Davis has also indicated that HT&E may look at divesting its Hong Kong-based Cody outdoor advertising firm later in 2023.

CORPORATES
HT&E LIMITED – ASX HT1, SEVEN WEST MEDIA LIMITED – ASX SWM, CODY

Pre-Christmas retail sales hit record high of $66.8 billion – within 1.2% of Roy Morgan’s forecast

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Feb-23

Roy Morgan’s 2022 Christmas retail sales forecast conducted in conjunction with the Australian Retailers Association (ARA) of $66 billion seasonally adjusted for the key pre-Christmas retailing period was within 1.2% of the actual record seasonally adjusted retail sales result of $66.8 billion – the most accurate forecast since the COVID-19 pandemic struck Australia early in 2020. Even more impressive were Roy Morgan’s retail sales forecasts covering ‘Non-Food’ categories, which cover about 60% of total retail spending. Roy Morgan had predicted that total spending in ‘Non-Food’ categories would amount to $40.6 billion (up 7.8% on a year ago); the final spending across these categories came in at $40.6 billion, an exact match and also in line with the ABS December quarter CPI figures. Forecast spending in the Food category was $25.4 billion, slightly lower than the actual result of $26.2 billion. The difference in this category was heavily impacted by significant flooding events in much of eastern Australia, which led to unexpected inflationary pressures across several key food and grocery items.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIAN BUREAU OF STATISTICS

Chinese-made cameras found in 88 MPs’ offices

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Original article by Ellen Whinnett
The Australian – Page: 4 : 15-Feb-23

Attorney-General Mark Dreyfus has sought security advice on a potential government-wide ban on surveillance cameras made by Hikvision and Dahua, which are both partly owned by the Chinese Communist Party. An audit has found that up to 1,000 cameras and other devices may have been installed across 250 federal government sites. This includes 122 devices that have been installed in the electorate offices of 88 federal MPs and senators. A Department of Finance spokesman has advised that Chinese-made surveillance cameras in electorate offices are being replaced as a precautionary measure.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF FINANCE, COMMUNIST PARTY (CHINA), HIKVISION, DAHUA

Defence review trigger pulled

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 15-Feb-23

The federal government will consider the final report of the Defence Strategic Review in coming weeks, after receiving it on Tuesday. Amongst other things, former defence chief Angus Houston and ex-defence minister Stephen Smith are believed to have recommended investing in military drones, unmanned submarines and warships that are equipped with guided missiles. Prime Minister Anthony Albanese says the review will "underpin defence policy for decades to come". He adds that the report has been delivered against the backdrop of the most complex strategic landscape that Australia has faced since the end of the Second World War.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Massive NBN bonuses under scrutiny

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Original article by Matthew Elmas
The New Daily – Page: Online : 15-Feb-23

NBNCo’s annual reports show that its executives have received bonuses totalling $5.7m since 2020, including about $1.5m in 2021-22. The issue was raised during a Senate estimates hearing on Tuesday. Assistant Minister for Infrastructure Carol Brown said that bonuses for executives of government-owned entities should be linked to performance, and taxpayers’ money should be "well spent". She added that the bonuses for NBNCo executives do not align with community expectations; Greens senator Sarah Hanson-Young has expressed a similar view.

CORPORATES
NBN CO LIMITED, AUSTRALIAN GREENS