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ANZ-Roy Morgan Consumer Confidence ends record nine week run, down 1.3pts to 97.0
June 10 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,502 telephone and online interviews conducted Australia-wide with men and women aged 14 and over the weekend June 6/7, 2020.
The nine-week run of consecutive gains has finally ended, with confidence falling 1.3% to 97.0 last week. The weakness was mainly due to ‘Time to buy a major household item’ component, which declined by 5.7%.
Current financial conditions
- Now 22% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year and 34% (down 2ppts) say their families are ‘worse off’ financially.
Future financial conditions
- 37% (down 1ppt), expect their family to be ‘better off’ financially this time next year compared to 17% (unchanged) that expect to be ‘worse off’ financially.
Current economic conditions
- Just 9% (down 1ppt) expect ‘good times’ for the Australian economy over the next 12 months while 40% (down 2ppts) expect ‘bad times’.
Future financial conditions
Time to buy a major household item
- In addition now 37% (down 5ppts) of Australians say now is a ‘good time to buy’ major household items, while 35% (up 1ppt) of Australians say now is a ‘bad time to buy’.
The four-week moving average for ‘inflation expectations’ decreased 0.1ppt at 3.2%. The weekly reading remained unchanged at 3.1%.
ANZ Head of Australian Economics, David Plank, commented:
"Last week’s fall in confidence can be seen as more of a consolidating move than weakness, as it has come after the most extended stretch of gains in the history of the weekly survey. Economic conditions and financial conditions were essentially flat in aggregate; a pleasing result given the news (with the publication of the Q1 GDP data) that Australia is almost certainly in a technical recession. The overall weakness in confidence was due to the fall in ‘Time to buy a household item’. This sub-index has gained nearly 50% since the low achieved during the height of the pandemic. Weekly ‘inflation expectations’ remained at the low of 3.1%, taking the four-week average down to a historic low of 3.2%."
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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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