Retail to catch a break?

According to the latest ANZ/RoyMorgan consumer confidence survey, more people think now is a good time to buy a major home appliance

Economy / news

According to the latest ANZ/RoyMorgan consumer confidence survey, more people think now is a good time to buy a major home appliance

20th Dec 24, 10:37am by admin

Image sourced from Shutterstock.com

ANZ has released its monthly consumer sentiment survey for December, carried out for them by Roy Morgan Research.

Briefly, this survey finally cracked triple figures in December, rising marginally from 99.8 to 100.2.

In a welcome sign for retailers, there was another sharp lift in the proportion of households thinking it’s a good time to buy a major household item.

Inflation expectations eased back 0.2%pts to 3.8%, where they’ve spent four of the past five months.

You can read the full survey results here.

Our chart allows you to compare it with the similar Westpac MM quarterly survey results.

Consumer confidence

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Source: ANZ Roy Morgan

Source: McDermott Miller

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12 Comments

by ChrisOfNoFame | 20th Dec 24, 11:38am 1734647895

"from 99.8 to 100.2."

Wouldn't that mean spending at its current level will be maintained? Is that going to be enough to help retailers / hospo / etc? (Sorry for the glass half-empty view.)

by easymoney | 20th Dec 24, 12:27pm 1734650879

A recovery has to start somewhere,. Yes next year will be a better year. I promise

by Toye | 20th Dec 24, 3:19pm 1734661162

Oh that settles it, I feel much better.

by LASSET | 20th Dec 24, 12:44pm 1734651864

I think late this year was probably the bottom for retail, but we're going to bounce along it for a while... I don't see much growth happening until October next year. That's the best case scenario. This has been the worst Christmas season I've seen in 17 years. Overall for the year around 12% down on PY, but 30% down on the highs of 2022. There's a lot of businesses only just holding on.

by JimboJones | 20th Dec 24, 1:54pm 1734656067

Surely spending will increase as interest rates drop

by Let me be Frank | 20th Dec 24, 2:40pm 1734658829

Did it increase after the July tax cuts?

by JimboJones | 20th Dec 24, 2:48pm 1734659302

That was a pittance that most people probably used to pay their increased mortgage rates.

As a country we have a lot of debt, if the servicing cost decreases dramatically then we will spend more. Those that still have jobs that is...

by Let me be Frank | 20th Dec 24, 2:58pm 1734659887

If you think 3.7 billion pa is a pittance

by LASSET | 20th Dec 24, 2:49pm 1734659397

Ha no. I thought mid winter was the bottom, it got worse after that.

by nzlegofan | 20th Dec 24, 3:55pm 1734663321

it was an adjustment for some of the tax bracket creep, not a cut

by ChrisOfNoFame | 20th Dec 24, 4:42pm 1734666143

Maybe the tax bracket creep is completely justified as taxpayers are now consuming much more than they did?

(As a matter of fact - this is true.)

And maybe - there are some taxpayers that are not paying their fair share and their share of a fair tax system could have been used to finance tax cuts for those that actually need it?

(As a matter of fact - this is true too.)

And GST? Why is food so cheap in Australia? So ordinary people can eat well? Could it be because the rich aren't subsidized by starving the poor?

Food for thought, ay?

by ChrisOfNoFame | 20th Dec 24, 4:43pm 1734666207

JJ: "Surely spending will increase as interest rates drop"

Made me chuckle. Such statements are made with the complete surety that household balance sheets are all hunky-dory.

Are they JJ?

Methinks you need to get out more. (Much like the RBNZ's four members of the MPC.)