ANZ-Roy Morgan Consumer Confidence drops 1.6pts to 112.4 as Greater Perth enters three-day lockdown

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Apr-21

ANZ-Roy Morgan Consumer Confidence fell 1.6pts to 112.4 on April 24/25. Despite the fall, Consumer Confidence is still above the 2021 weekly average of 111.0 and 27.4pts higher than the same week a year ago (85.0). Now 28% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 26% (up 1ppt) say their families are ‘worse off’ financially. In addition, 37% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 13% (unchanged) expect to be ‘worse off’ financially. Some 21% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 15% (unchanged) expect ‘bad times’. Meanwhile, 44% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 23% (down 1ppt) say now is a ‘bad time to buy’ (the lowest figure for this indicator since March 1, 2020).

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

Price of electricity the lowest since 2012

Original article by Perry Williams
The Australian – Page: 7 : 28-Apr-21

Data from the Australian Energy Market Operator shows that wholesale electricity prices fell to the lowest level since 2012 during the first three months of 2021. The wholesale price in New South Wales averaged $38 per megawatt hour, compared with $86MWh for the March 2020 quarter; the wholesale price in Victoria averaged $25MWh, down from $79MWh previously. Demand for electricity fell during the quarter due to factors such as the increase in solar power generation and the lowest average temperatures for the period since 2012.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Loan deferral scheme a win for economy

Original article by James Frost
The Australian Financial Review – Page: 19 : 28-Apr-21

More than 468,000 home loan customers in Australia were on deferred repayment plans at the height of the COVID-19 pandemic; this had fallen to 3,170 by the end of March. Likewise, the number of small business borrowers who have deferred their loan repayments has fallen from 235,440 to just 508. Overall, just 0.5 per cent of all loans are still on a ‘repayment holiday’. The loan deferral scheme ended on 31 March, but Australian Banking Association CEO Anna Bligh says the nation’s banks will continue to provide support for distressed households and businesses.

CORPORATES
AUSTRALIAN BANKING ASSOCIATION

Economy gets caffeine hit as spending soars

Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 22-Apr-21

Data from the Australian Bureau of Statistics shows that retail sales increased by 1.4 per cent nationwide in March, after falling by 0.8 per cent in February. Retail sales grew by 5.5 per cent in Western Australia and four per cent in Victoria, with both states having been affected by snap COVID-19 lockdowns in February. Consumer spending totalled $30.7bn overall in March, which is 10.6 per cent above pre-pandemic levels. The growth in retail sales has been driven by service-oriented businesses such as cafes and restaurants.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 114.0

Original article by Roy Morgan
Market Research Update – Page: Online : 21-Apr-21

ANZ-Roy Morgan Consumer Confidence fell 0.1pts to 114.0 on the weekend of April 17/18. Consumer Confidence has remained well above the 2021 weekly average of 110.9, and it is now 29.8pts higher than the same week a year ago (84.2). Now 27% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year, while 25% (unchanged) say their families are ‘worse off’ financially. In addition, 39% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 13% (unchanged) expect to be ‘worse off’ financially. Some 23% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since March 1, 2020), while 15% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since October 2010). Meanwhile, 44% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 24% (down 1ppt) say now is a ‘bad time to buy’.

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

Funds fall as super savers hit by Covid

Original article by Anthony Keane
The Australian – Page: 20 : 9-Apr-21

Data from the Australian Prudential Regulation Authority shows that some of the nation’s largest superannuation funds recorded overall growth in members in 2019-20. However, seven out of 10 super funds had a net loss of members during the financial year, particularly retail funds. The federal government’s early access scheme contributed to the closure of some super accounts, but Association of Superannuation Funds of Australia CEO Martin Fahy says the main factor was the federal government’s policy of consolidating accounts with low balances.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED

Building approvals bounce back on HomeBuilder

Original article by Michael Bleby
The Australian Financial Review – Page: 39 : 1-Apr-21

Data from the Australian Bureau of Statistics shows that approvals for stand-alone homes increased by nearly 14 per cent month-on-month in February, to 14,072 in seasonally adjusted terms. Approvals for apartments and townhouses increased by 49 per cent to 5,350; however, this followed a 39 per cent fall in January. Economists say the federal government’s HomeBuilder scheme has been a major catalyst for the strong demand for housing.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Mine export surge holds up economy

Original article by Angela Macdonald-Smith, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 29-Mar-21

The federal government expects the value of Australia’s resources and energy exports to top $296bn in 2020-21, after a record $291bn in the previous financial year. The surge in export earnings will be driven by iron ore; the Department of Industry, Science, Energy & Resources now expects iron ore earnings to total $136bn, compared with its forecast in December of $123bn for the financial year. However, exports of LNG, thermal coal and coking coal are forecast to be lower in 2020-21. The record resources and energy exports will boost the Budget bottom line, with the full-year deficit now expected to be $150bn.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Record trade surplus adds to recovery

Original article by Matthew Cranston
The Australian Financial Review – Page: 1 & 6 : 5-Mar-21

Australia’s trade surplus rose to a record $10.2bn in January, compared with market expectations of just $8.3bn. Strong growth in the resources sector’s exports was a key driver of the record trade surplus; the value of iron ore exports rose by 14.2 per cent month-on-month to $16.1bn, while LNG and coal exports rose by 7.9 per cent and 2.6 per cent respectively. Treasurer Josh Frydenberg notes that in addition to growth in iron ore export volumes in January, the price of the steel input remains well above the Budget forecast of just $US55 a tonne free on board.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

National cost of pandemic response to reach $327bn over five years

Original article by Patrick Commins
The Australian – Page: 4 : 5-Mar-21

The Parliamentary Budget Office estimates that the combined net debt of Australia’s three levels of government will blow out to almost $1.3tn in the five years to 2024. Federal, state and local governments are forecast to collectively spend some $327bn on COVID-19 measures over the five-year period. The independent budget watchdog now expects the national net operating balance across all levels of government in 2020-21 to be a deficit of 11.1 per cent of GDP; it had previously forecast a surplus of 1.7 per cent of GDP for the current financial year.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE