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ANZ-Roy Morgan Consumer Confidence increases for eighth straight week, up 0.4pts to 92.7

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,456 telephone and online interviews conducted Australia-wide with men and women aged 14 and over the weekend May 23/24, 2020.
Confidence gained for the eighth straight week and is up 42% from its low point of 65.3 in March, when fears about the pandemic were at the most extreme.

Current financial conditions

  • Now 23% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 36% (unchanged) say their families are ‘worse off’ financially.

Future financial conditions

  • 38% (up 1ppt), expect their family to be ‘better off’ financially this time next year compared to 17% (down 3ppts) that expect to be ‘worse off’ financially.

Current economic conditions

  • Just 6% (down 1ppt) expect ‘good times’ for the Australian economy over the next 12 months while 48% (unchanged) expect ‘bad times’.

Future financial conditions

  • And in the longer term, 20% (down 1ppt) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 20% (up 2ppts) expecting ‘bad times’.

Time to buy a major household item

  • In addition now 35% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 38% (down 2ppts) of Australians say now is a ‘bad time to buy’.

The four-week moving average for ‘inflation expectations’ decreased 0.1pt at 3.3%. The weekly reading decreased to 3.2% from 3.3%.

ANZ Head of Australian Economics, David Plank, commented:

"Confidence strengthened further last week, albeit modestly. While still below average, sentiment has recovered strongly from its March low and is now only around 15% below its level at the end of February. Government measures and signs that the job market is stabilising seem to be playing a key part in the recovery of the index despite recent concerns over trade with China and weak retail sales. These factors, and the move in Australia’s credit rating to a negative outlook by Fitch, may explain why expectations about the ‘future economic outlook’ fell."

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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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Roy Morgan is the largest independent Australian research company, with offices throughout Australia, as well as in Indonesia, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan has over 70 years’ experience in collecting objective, independent information on consumers.

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


25% or 75%

10% or 90%

5% or 95%