Roy Morgan consumer confidence stuck

Last week we were all treated to a big jump in Westpac’s monthly consumer confidence number:

However, Roy Morgan also measures consumer confidence weekly and is not showing the same response:

The weekly Morgan Consumer Confidence Rating is now at 112.7pts (down 3pts over the past week). Consumer Confidence is now 0.4pts lower than a year ago, November 19/20, 2011 — 113.1.

Driving the fall was less confidence in people’s financial situations compared to a year ago and over the next 12 months and also economic conditions in Australia over the next five years.

Australians are less positive about their personal finances over the next 12 months with 37% (down 3%) saying they expect their family to be ‘better off’ financially while 20% (up 5%) expect to be ‘worse off’ financially.

Now 31% (down 2%) of Australians say their family is ‘better off’ financially compared to a year ago while 31% (up 3%) say their family is ‘worse off’ financially.

Over the next five years (31% (down 2%) of Australians expect Australia’s economy to have ‘good times’ economically while 23% (up 3%) expect ‘bad times’.

Australians are slightly less confident about Australia’s economy over the next twelve months with 29% (unchanged) of Australians expecting ‘good times’ economically compared to 31% (up 1%) that expect ‘bad times’.

However, a growing majority of Australians (57%, up 2%) say it is a ‘good time to buy’ major household items and only 16% (down 3%) of Australians say now is a ‘bad time to buy’ major household items.

The two indexes track pretty well over time so we shall see.