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ANZ-Roy Morgan Consumer Confidence up 1.1pts to 110.3 as COVID-19 vaccine rollout begins. Confidence up in Victoria after third lockdown ends
March 02 2021
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,518 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend February 27/28, 2021.
ANZ-Roy Morgan Consumer Confidence increased by 1.1pts to 110.3 on February 27/28, 2021. Consumer Confidence is now almost level with the 2021 weekly average of 110.2 and is now a significant 5.5pts higher than the same week a year ago, February 29/ March 1, 2020 (104.8).
This week’s increase in Consumer Confidence has been driven by increasing confidence about personal finances over the next year and also more people saying now is a ‘good time to buy’ major household items.
Current financial conditions
- Now 27% (unchanged) of Australians say their families are ‘better off’ financially than this time last year and 29% (unchanged), say their families are ‘worse off’ financially.
Future financial conditions
Current economic conditions
- An unchanged proportion of Australians, 18%, expect ‘good times’ for the Australian economy over the next 12 months while 17% (down 2ppts), expect ‘bad times’.
Future economic conditions
In the longer term, around a quarter of Australians, 24% (down 3ppts), are expecting ‘good times’ for the economy over the next five years compared to 13% (unchanged) expecting ‘bad times’.
Time to buy a major household item
- An increasing plurality of Australians, 42% (up 2ppts), say now is a ‘good time to buy’ major household items, while 25% (down 2ppts), say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"Consumer Confidence reversed its three-week losing streak as the nationwide inoculation program began a week ago. Headline confidence is around its long-run average. What stands out is the jump in weekly inflation expectations to 3.9% (from 3.6% a week ago), its highest level since early April. Higher global fuel prices pushed up the average domestic retail petrol price by 1.6 cents/litre last week. This, coupled with a strong housing market and faster than expected recovery in the labour market, could be fuelling inflationary concerns. Inflation expectations are still below pre-pandemic levels, so could rise further without causing undue alarm for the RBA."
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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