ANZ-Roy Morgan Consumer Confidence up 1.9pts to 112.3

Current financial conditions

• Now 30% (up 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 27% (down 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

• In addition, 41% (up 5ppts) of Australians expect their family to be ‘better off’ financially this time next year compared to only 14% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

• Just over one-in-five Australians, 21% (up 2ppts), expect ‘good times’ for the Australian economy over the next 12 months while 18% (up 1ppt), expect ‘bad times’.

Future economic conditions

• In the longer term, just over a fifth of Australians, 22% (unchanged), are expecting ‘good times’ for the economy over the next five years compared to 13% (up 2ppts) expecting ‘bad times’.

Time to buy a major household item

• In good news for retailers an increasing plurality of Australians, 44% (up 1ppts) say now is a ‘good time to buy’ major household items, while 24% (down 1ppt), say now is a ‘bad time to buy’.

"Consumer confidence recovered with a gain of 1.7% as the weather improved along the east coast, after heavy rainfall and floods wreaked havoc. Confidence rose sharply in Queensland, with a gain of 10.5% in Brisbane and 6.7% in the rest of the state. Sentiment in Queensland may be tested by the emergence of a COVID-19 cluster in Brisbane. NSW was more subdued, with confidence down 0.3% - reflecting perhaps the ongoing impact of the flooding and the sad news that two lives were lost. The rise in overall confidence to almost its long-run average is encouraging and points to the end of JobKeeper being successfully navigated overall, if not without some difficult individual circumstances."