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ANZ-Roy Morgan Consumer Confidence increases for third straight week, up 6pts to 84.2
April 21 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,444 telephone and online interviews conducted Australia-wide with men and women aged 14 and over the weekend April 18/19, 2020.
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
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."
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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.
You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates
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