ANZ-Roy Morgan Consumer Confidence increases for third straight week, up 6pts to 84.2

Topic: Consumer Confidence, Press Release

Finding No: 8375

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Confidence has strengthened for the third week running, up 6pts (+7.7%) to 84.2. The gain was broadly based, except ‘Current Finances’ which was down slightly.

Current financial conditions

Now 20% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 41% (up 1ppt) say their families are ‘worse off’ financially.

Future financial conditions

In good news more Australians, now 36% (up 4ppts), expect their family to be ‘better off’ financially this time next year compared to 24% (down 3ppts) that expect to be ‘worse off’ financially.

Current economic conditions

However just 5% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months while 54% (down 4ppts) expect ‘bad times’.

Future financial conditions

And in the longer term, 16% (up 4ppts) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 18% (down 2ppts) expecting ‘bad times’.

Time to buy a major household item

In addition now 28% (up 8ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (down 7ppts) of Australians say now is a ‘bad time to buy’.

The four-week moving average for ‘inflation expectations’ fell 0.2ppt to 3.8%. The weekly reading dipped to 3.1% from 3.8%.

ANZ Head of Australian Economics, David Plank, commented:

“The flattening in the pandemic curve and the recovery in equity markets may be helping to lift consumer confidence. Better-than-expected news on the labour market may also have boosted sentiment. Confidence is now close to 30% above the historic low reached on the last weekend of March. While the recovery has been solid, sentiment is still well below average. Inflation expectations have dropped, with the weekly reading of 3.1% the lowest since the survey began measuring inflation expectations in 2010. The dramatic drop in petrol prices over recent weeks may be a major contributor to the fall.”

Related Research Reports

The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more

Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.
Business Banking Satisfaction - Monthly Report in Australia.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.

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Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

	40% – 60%	25% or 75%	10% or 90%	5% or 95%
1,000	±3.0	±2.7	±1.9	±1.3
5,000	±1.4	±1.2	±0.8	±0.6
7,500	±1.1	±1.0	±0.7	±0.5
10,000	±1.0	±0.9	±0.6	±0.4
20,000	±0.7	±0.6	±0.4	±0.3
50,000	±0.4	±0.4	±0.3	±0.2

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ANZ-Roy Morgan Consumer Confidence increases for third straight week, up 6pts to 84.2

ANZ Head of Australian Economics, David Plank, commented:

Margin of Error

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