ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 0.8pts to 85.0

Topic: Consumer Confidence, Press Release

Finding No: 8385

Download 8375

Confidence has strengthened for the fourth week running, though the gain of 1% to 85.0 was much smaller than over the prior three weeks. Reflecting this loss of momentum, the performance of the sub-indices was mixed.

Current financial conditions

Now 19% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 40% (down 1ppt) say their families are ‘worse off’ financially.

Future financial conditions

30% (down 6ppts), expect their family to be ‘better off’ financially this time next year compared to 22% (down 2ppts) that expect to be ‘worse off’ financially.

Current economic conditions

Just 6% (up 1ppt) expect ‘good times’ for the Australian economy over the next 12 months while 48% (down 6ppts) expect ‘bad times’.

Future financial conditions

And in the longer term, 15% (down 1ppt) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 23% (up 5ppts) expecting ‘bad times’.

Time to buy a major household item

In addition now 25% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 38% (down 9ppts) of Australians say now is a ‘bad time to buy’.

The four-week moving average for ‘inflation expectations’ fell 0.1ppt to 3.7%. The weekly reading bumped to 3.6% from 3.1%.

ANZ Head of Australian Economics, David Plank, commented:

“Confidence is showing signs of consolidation after the strong gains of the prior three weeks. It remains well below average, however, as do all of the subcomponents. We are at an important stage in Australia’s response to the pandemic, with a number of states relaxing some restrictions. If successful, that could set the stage for a further gain in consumer sentiment. Unfortunately , confidence is likely to be challenged by the publication of some very negative economic data over the coming month, after a period in which the data has not caught up with the severity of the economic impact from the lockdowns..”

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.
Business Banking Satisfaction - Monthly Report in Australia.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.

For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309
askroymorgan@roymorgan.com

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

Products & Tools

Services

Industries

Findings

About

ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 0.8pts to 85.0

ANZ Head of Australian Economics, David Plank, commented:

Margin of Error

Related Findings

Sign up to our Newsletter