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ANZ-Roy Morgan Consumer Confidence up 0.9pts to 91.1 before Premier Daniel Andrews confirmed extension of Victorian lockdown
September 08 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,521 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend September 5/6, 2020.
ANZ-Roy Morgan Consumer Confidence increased 0.9pts to 91.1 on September 5/6, 2020 and is now 22.2pts lower than a year ago on the comparable weekend of September 7/8, 2019 (113.3) and 2.6pts below the 2020 weekly average of 93.7.
Driving this week’s increase was more confidence about the economic prospects for Australia over the long-term and more Australians saying now is a ‘good time to buy’ major household items.
Current financial conditions
Now 24% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 36% (up 1ppt) say their families are ‘worse off’ financially.
Future financial conditions
Current economic conditions
Future financial conditions
Time to buy a major household item
An increasing proportion of Australians, 34% (up 2ppts), say now is a ‘good time to buy’ major household items, while 37% (down 2ppts), say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“The consumer confidence survey was carried out ahead of the announcement of the plan for Victoria to emerge out of the lockdown. Even taking this into account, the up-tick in confidence comes as a positive surprise. We had thought the release of the weak Q2 GDP report during the week, with the media in particular focusing on the confirmation that Australia is in recession, would have dampened sentiment overall. The jump in ‘future economic conditions’ may indicate that a number of people think the economic situation is close to the bottom. Indeed, sentiment in this category is now close to the neutral level of 100. People are much more negative about the near-term economic outlook, however, though they are positive about their own ‘current financial conditions.’”
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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.
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