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ANZ-Roy Morgan Consumer Confidence drops 2.4pts to 106.0 in the first week of 2022

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,517 online and telephone interviews conducted Australia-wide with men and women aged 14 during the week of January 4-9, 2022.
ANZ-Roy Morgan Consumer Confidence dropped 2.4pts to 106.0 during the first week of January, and is now 2.9 pts below the same week a year ago, January 9/10, 2021 (108.9).

The small drop in Consumer Confidence follows a surge in cases of the Omicron variant of COVID-19 cases over the last few weeks with tens of thousands of cases in NSW, Victoria, Queensland and South Australia causing many problems for businesses with staff forced to isolate due to catching COVID-19 or because of being a close contact. The surge in cases has likely contributed to the small decline in Consumer Confidence in the first week of January, a week in which Consumer Confidence normally increases to start the new year.

Consumer Confidence this week was down in all states, particularly in South Australia (-11.8pts). Driving the decrease were negative movements in relation to current economic conditions and buying intentions going forward.

Current financial conditions

  • Now 30% (down 2 ppts) of Australians say their families are ‘better off’ financially than this time last year compared to 23% (down 4ppts), that say their families are ‘worse off’ financially.

Future financial conditions

  • 38% of Australians (unchanged) expect their family to be ‘better off’ financially this time next year, compared to 16% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

  • Now 14% (down 5ppts), of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to 24% (up 4ppts), that expect ‘bad times’.

Future economic conditions

  • In the longer term, just over a fifth of Australians, 21% (unchanged), are expecting ‘good times’ for the economy over the next five years compared to 16% (unchanged) expecting ‘bad times’.

Time to buy a major household item

  • Buying intentions decreased this week, with 38% (down 3ppts) of Australians, saying now is a ‘good time to buy’ major household items while 32% (up 2ppts) say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

Consumer confidence began the year on a downbeat note, with a decline of 2.2% compared to the pre-Christmas level. The rapid rise of Omicron cases across Australia is likely responsible for the dampened outlook in the first week of January. Confidence fell in all the major capitals, with Adelaide faring the worst. Over the decade from 2011 to 2020, consumer confidence has risen 2.6% on average in the first survey of January compared to the last prior to Christmas. So this result is even weaker than it seems. Consistent with the drop in confidence, ANZ-observed spending is at its lowest level since the Delta lockdowns. The good news is that people are still relatively happy about their own financial circumstances. This potentially sets things up for a rapid rebound once people are more confident about health outcomes."

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 2021 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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About Roy Morgan

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

40%-60%

25% or 75%

10% or 90%

5% or 95%

1,000

±3.0

±2.7

±1.9

±1.3

5,000

±1.4

±1.2

±0.8

±0.6

7,500

±1.1

±1.0

±0.7

±0.5

10,000

±1.0

±0.9

±0.6

±0.4

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2