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The main contributor to the rise in the weekly Roy Morgan Consumer Confidence Rating is the increase in the number of Australians who are more confident about the future.

Looking forward to the next 12 months, 16% (up 4% - and the highest since January 10/11, 2009) of Australians say that Australia will have ‘good times financially’ over the next 12 months compared to 56% (down 4%) that say we’ll have ‘bad times’ over the next 12 months.

Thinking about the longer-term, 33% (up 1%) of Australians expect Australia to have ‘good times’ economically over the next five years compared to 22% (down 5%) that expect Australia to have ‘bad times.’

Now 32% (unchanged) of Australians expect their family to be ‘better off financially’ this time next year compared to 21% (down 2%) of Australians that expect their family to be ‘worse off financially.’

In addition, 27% (up 1%) of Australians say their family is ‘better off financially’ than they were this time last year compared to 36% (down 1%) of Australians that say their family is ‘worse off financially.’

For the third week in a row 44% (unchanged) say ‘now is a good time to buy’ major household items and 31% (unchanged) say ‘now is a bad time to buy’ major household items.

Gary Morgan says:

“The latest weekly Roy Morgan Consumer Confidence Rating shows a small rise, up 3.7pts to 97.2.This rise comes as Australia’s share-market has turned around — now up more than 15% since a near 6-year low reached on March 6, 2009.

“The first stimulus cheques from the Rudd Government’s $42 billion Second Stimulus plan are also starting to arrive in Australian bank accounts — the rise in Australians expecting “good times” for Australia over the next year is now the highest since early January suggesting some confidence is starting to return to Australians about the year ahead — although there is still a long way to go.

“The Reserve Bank of Australia meets in the next fortnight — and Australia’s interest rates are officially the highest in the developed world — for the first time higher than New Zealand’s.

“The RBA must cut interest rates by at least 1% to support the Australian economy and give further confidence to Australian businesses and the community which will support jobs and prevent unemployment rising precipitously.”

This weekly Roy Morgan Consumer Confidence rating is based on 1,042 face-to-face interviews conducted Australia-wide with men and women aged 14 and over on the weekend of March 21-22, 2009.

For further information:

Gary Morgan:                    Office + 61 3 9224 5213           Mobile + 61 411 129 094

Michele Levine:                  Office + 61 3 9224 5215           Mobile + 61 411 129 093

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. The following table 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. The figures are approximate and for general guidance only, and assume a simple random sample.  Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Results for the weekly Roy Morgan Consumer Confidence Rating* for the component questions over the more recent surveys are as follows:
2008 (October - December) - Weekly												Oct				Nov					Dec
												4/5	11/12	18/19	25/26	1/2	8/9	15/16	22/23	29/30	6/7	13/14	20/21
Interviews												1,183	981	1,064	1,072	1,060	1,100	1,045	989	1,140	1,109	1,016	988
Q1 Would you say you and your family are better-off financially or worse off than you were at this time last year?
Over the past year	better off											25	26	27	25	26	28	23	26	27	27	29	31
	worse off											38	41	37	42	40	36	37	37	36	36	35	34
QUESTION 1 difference												-13	-15	-10	-17	-14	-8	-14	-11	-9	-9	-6	-3
Q2 This time next year, do you and your family expect to be better-off financially or worse off than you are now?
	better off											38	34	34	32	34	37	32	37	36	34	38	37
	worse off											22	23	24	27	25	20	23	23	20	20	19	20
QUESTION 2 difference												16	11	10	5	9	17	9	14	16	14	19	17
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially, bad times or some good and some bad?
	good times											19	14	15	14	14	19	16	17	18	18	16	16
	bad times											44	49	48	54	51	49	50	49	47	46	46	48
QUESTION 3 difference												-25	-35	-33	-40	-37	-33	-34	-32	-29	-28	-30	-32
Q4 Looking ahead, what would you say is more likely, that in Australia as a whole, we'll have continuous good times during the next five years of so - or we'll have bad times - or some good and some bad?
	good times											28	28	27	28	30	30	26	30	31	29	30	33
	bad times											22	26	26	28	25	21	26	22	23	22	22	19
QUESTION 4 difference												6	2	1	0	5	9	0	8	8	7	8	14
Q5 Generally, do you think now is a good time - or a bad time - for people to buy major household items?
	good time to buy											29	26	30	28	31	33	33	33	39	40	43	46
	bad time to buy											40	43	45	40	43	39	37	37	36	33	34	26
QUESTION 5 difference												-11	-17	-15	-12	-12	-6	-4	-4	3	7	9	20
Weekly Roy Morgan Consumer Confidence Rating												94.2	89.5	90.7	87.3	90.3	95.8	91.2	94.9	97.8	98.4	99.9	103.0
* The Roy Morgan Consumer Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

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