ANZ-Roy Morgan Consumer Confidence up 2.5pts to 111.2 – now 3.2pts higher than the same weekend a year ago

ANZ-Roy Morgan Consumer Confidence was up by 2.5pts to 111.2 on January 23/24, 2021. Consumer Confidence is now 15.2pts above the 2020 weekly average of 96.0 and is 3.2pts higher than the same week a year ago, January 25/26, 2020 (108.0).
The increase in Consumer Confidence this week – the largest increase since late November 2020 – has been driven by increasing confidence about the economic outlook for Australia with strong increases in those expecting ‘good times’ for the economy over the next year and next five years.

Current financial conditions

• Now 26% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 29% (down 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

• In addition, 38% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year compared to 12% (down 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

• An increasing proportion of Australians, 18% (up 4ppts) expect ‘good times’ for the Australian economy over the next 12 months while just 16% (down 5ppts), expect ‘bad times’ (the lowest figure for this indicator for nearly eight years since March 2013).

Future economic conditions

• In the longer term, over a quarter of Australians, 26% (up 4ppts), are expecting ‘good times’ for the economy over the next five years compared to only 10% (down 2ppts) expecting ‘bad times’ (the lowest figure for this indicator for over a decade since August 2010).

Time to buy a major household item

• A clear plurality of Australians, 40% (down 2ppts), say now is a ‘good time to buy’ major household items, while only 25% (unchanged), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"The improvement in consumer confidence comes on the back of further good news on the labour market front, notably the drop in the unemployment rate to 6.6% in December. The absence of community transmitted COVID-19 cases for a number days and the relaxation in border rules has likely also supported confidence. Sentiment about current and future economic conditions has surged and both are now above their long-run averages, for the first time since mid-2019. Weekly inflation expectations accelerated 0.2ppt. This could be on back of the up-tick in petrol prices. The national average retail petrol price rose more than 14 cents in the week to 24 January, ahead of the long weekend, according to the Australian Institute of Petroleum."

Latest ANZ-Roy Morgan Consumer Confidence Releases.
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables

ANZ-Roy Morgan Weekly Australian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan 2020 Weekly Australian Consumer Confidence Results
ANZ-Roy Morgan Monthly Australian Consumer Confidence Results (1973-2021)
ANZ-Roy Morgan New Zealand Consumer Confidence Results (All 5 Questions)
Roy Morgan Indonesian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan Asia-Pacific Consumer Confidence Results (Headline Figures)

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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