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Consumer Confidence in Australia remains strong even as consumers in America are becoming increasingly negative about their own prospects and the state of the American economy a special Roy Morgan Consumer Confidence survey conducted in conjunction with ABC America in the USA finds.

Australian Consumer Confidence, measured for the first time using the ABC America system, stands at +27 on its scale from +100 to -100. This compares very favourably with the American Consumer Confidence which is at a 5 year low of -27.  The last time American Consumers were this nervous about their immediate futures was in the days leading up to the Iraq War, which was launched in March 2003.

Only 28% of American consumers believe now to be a good or excellent time to buy things, which is the fewest since 1993, a 15 year low. By comparison, 47% of Australian consumers believe now is a good or excellent time to buy.

Australians’ confidence in the Australian Economy is also far higher, with 75% of Australians describing the Australian economy as being in a good or excellent state, compared to only 27% of Americans.

In terms of Personal Finances, 69% of Australians describe their Personal Finances as good or excellent, while a bare majority of Americans, 54%, say that about the state of their Personal Finances.

Gary Morgan says:

“With this special Roy Morgan Consumer Confidence survey it is possible for the first time to accurately compare Consumer Confidence amongst Australian and American consumers. The results are striking.

 

“The confidence of Australian consumers has held up very well despite the recent falls on the stock market and the troubles being experienced elsewhere. 75% of Australians describe the economy as being in a good or excellent state, which is almost 3 times the number of Americans, only 27%.

 

“Australians’ confidence in terms of major buying decisions is also far higher, at 47%, compared to only 28% of Americans, a low last reached in America as it emerged from the severe recession of the early 1990s.”

 

This special Roy Morgan Consumer Confidence Survey is based on 694 telephone interviews conducted Australia-wide with men and women aged 14 and over on January 30/31, 2008.

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

*Using the ABC America Consumer Confidence Indicator which adds the three measures of CCI and divides by 3 to find the overall CCI.

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.

© 2007 Roy Morgan Research. All Rights Reserved
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