ECONOMIC INDICATORS – AUSTRALIA

ANZ-Roy Morgan Australian Consumer Confidence rises across the board – up 2.7pts to 114.5

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

ANZ-Roy Morgan Australian Consumer Confidence rose 2.4% to 114.5 in the week ended 2 July 2017, bringing the index to its highest point since early April and above the long-run average. The rise in confidence was broad-based, with all sub-indices posting gains. The volatility in households’ views around current financial conditions continues, with the sub index rising 3.8%. Consumers were less optimistic about future financial conditions. This sub index rose 0.8% last week, only partially offsetting the 1.7% decline in the previous week. Confidence around both current and future economic conditions rose solidly (+3.7% and +3.0% respectively). The current economic conditions sub index now sits at its highest point since mid-March.

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

Business Confidence down in June to 111.8 driven by declines in the Retail and Electricity industries

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

Business Confidence in Australia fell 2pts (-1.8%) to 111.8 in June, according to the Roy Morgan Business Single Source survey. Business Confidence declined on the back of falling expectations of the Australian economy, with fewer businesses expecting "good times" for the economy in both the short-term and the long-term. Some 46.9% (down 6.3ppts) of businesses expect "good times" for the economy over the next year and 49.6% (down 0.9ppts) expect "good times" for the economy over the next five years. Meanwhile, 46% (up 5.2ppts) of businesses expect "bad times" for the economy over the next year and 42.5% (up 2.4ppts) expect "bad times" for the economy over the next five years. Roy Morgan Research CEO Michele Levine says the back-to-back declines for Business Confidence over the past two months has seen Business Confidence dip below the ANZ-Roy Morgan Australian Consumer Confidence rating for the first time since early March.

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

ANZ-Roy Morgan Australian Consumer Confidence edges lower again to 111.8 (down 0.6pts)

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Jun-17

ANZ-Roy Morgan Australian Consumer Confidence edged 0.5% lower to 111.8 in the week ended 25 June 2017, down for the second week in a row. The sub-indicators continue to show volatility. Households’ views around current financial conditions were largely unchanged (down 0.2%), while views towards future conditions fell 1.7%, following four consecutive weeks of gains. Households’ confidence in future economic conditions ticked 0.4% lower last week, while expectations of current economic conditions edged 2.4% higher, up for the second consecutive week.

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

ANZ-Roy Morgan Australian Consumer Confidence stability masks volatility in the sub-indices – down 0.5pts to 112.4

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 21-Jun-17

ANZ-Roy Morgan Australian Consumer Confidence fell 0.4 per cent to 112.4 in the week ended 18 June 2017. Broadly, though, confidence has recovered from the mid-May low. That said, there continues to be significant volatility between sub-indices. Households’ expectations of current economic conditions edged up 0.6%, after a 5.2% decline the previous week. However, households’ confidence in future economic conditions rose 2.8%, more than offsetting the 2.6% fall in the previous week. Meanwhile, households’ views around current financial conditions dropped 8.1%, unwinding most of the 9.4% jump in the previous week. Views towards future conditions edged up 0.2%. This sub-index is at its highest point in seven weeks.

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

Resource states recover to drive jobs growth

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 6 : 16-Jun-17

The Australian Bureau of Statistics has reported that 42,000 new jobs were added to the economy in May 2017. Full-time jobs accounted for 80 per cent of the 141,000 new jobs in the past three months. New South Wales added 49,000 new jobs over the past six months, while Victoria added 41,000. Resources states Queensland and Western Australia both recorded improved jobs growth in the past six months. Kristina Clifton of the Commonwealth Bank said the recent good job figures means an interest rate cut is unlikely in the foreseeable future.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

ANZ-Roy Morgan Australian Consumer Confidence steady at 112.9

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Jun-17

ANZ-Roy Morgan Australian Consumer Confidence remained unchanged at 112.9 in the week ended 11 June 2017, following the release of the disappointing GDP result for the March quarter. The headline number masked significant changes in the sub-indices. Household expectations of current economic conditions dropped a sharp 5.2% last week, almost entirely unwinding gains made over the last three weeks. Views towards future economic conditions also declined 2.6%, following a 3.2% fall in the previous week. This sub-index currently sits at its lowest level since September 2015. However, household views around current financial conditions jumped 9.4%, bringing the index to its highest level in 14 weeks. Views towards future conditions also improved, rising 1.5% last week following a 2.7% rise the previous week.

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

Over 2.6 million Australians were unemployed or under-employed in May

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Jun-17

Australia’s real unemployment rate was 9.8% (1.284 million Australians looking for work) in May 2017. In addition 1.338 million Australians were under-employed (10.2% of the workforce). This is a total of 2.622 million Australians (20% of the workforce) looking for work or looking for more work. In May the total Australian workforce was 13,074,000 (up 291,000 in 12 months) and employment grew to 11,790,000 (up 376,000). However, the increase in employment was almost entirely driven by a large increase in part-time employment, which rose 346,000 to 4,238,000. Full-time employment rose a modest 30,000 to 7,552,000. Roy Morgan Research executive chairman Gary Morgan says last week’s Fair Work Commission decisions to increase the minimum wage by $22 per week (+3.3%) and partly defer cuts to Sunday penalty rates over three years instead of now have dealt a significant blow to the prospect of more jobs for Australia’s unemployed and under-employed.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN BUREAU OF STATISTICS

Business Confidence gives soft ‘thumbs down’ to Federal Budget

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Jun-17

Business Confidence in Australia fell 2.8pts (-2.4%) to 113.8 in May, according to the Roy Morgan Business Single Source survey. The fall in Business Confidence came during the month Treasurer Scott Morrison handed down a Federal Budget which included plans to increase taxation on Australian banks and coincided with the Australian All Ordinaries falling 186.3pts (-3.1%) to 5,761.3. The business specific financial indicators drove this month’s fall in Business Confidence back to the pre-Budget March rating of 113.8. In May 44.4% (down 4.3ppts) of Australian businesses expected to be "better off" financially this time next year, compared to 22.6% (up 2.9ppts) that expected to be "worse off" – a net negative movement of 7.2pts. Also fewer Australian businesses, 39% (down 3.2ppts), said the business is "better off" financially than a year ago while 32.9% (up 3.6ppts), said the business is "worse off" – a net negative movement of 6.8pts.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Economy at slowest pace since GFC

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 1 & 2 : 8-Jun-17

The latest national accounts data shows that the Australian economy expanded by just 1.7 per cent in the year to March 2017, which is the lowest annual growth rate for eight years. GDP growth was 0.3 per cent in the March quarter, compared with 1.1 per cent in the December 2016 quarter. Treasurer Scott Morrison has downplayed concerns about the outlook for the economy and the implications for May 2017 Budget forecasts. He notes that 17 out of 20 industry sectors recorded growth during the March quarter, while business investment has risen for two consecutive quarters.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CITIGROUP PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Outlook ‘tough’ as economy slows

roymorgansocial Leave a comment

Original article by David Rogers
The Australian – Page: 17 & 27 : 8-Jun-17

Data from Credit Suisse shows that financial markets expect the cash rate to remain on hold in the next 12 months, following the release of the latest GDP data. The economy expanded by just 0.3 per cent in the March 2017 quarter, and year-on-year growth fell to an eight-year low of 1.7 per cent. The data will cast doubt on the Reserve Bank’s forecast of calendar year economic growth of 2.5-3.5 per cent. The Commonwealth Bank notes that the central bank will be adverse to easing the cash rate, as doing so could further inflate house prices.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ROYAL BANK OF CANADA, GOLDMAN SACHS AUSTRALIA PTY LTD, WESFARMERS LIMITED – ASX WES, TELSTRA CORPORATION LIMITED – ASX TLS, TOLL HOLDINGS LIMITED, GOODMAN GROUP – ASX GMG