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ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 1.5pts to 95.0 – driven by increases in Sydney & Perth but down 4.8 points in Melbourne to 86.9
September 29 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,551 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend September 26/27, 2020.
ANZ-Roy Morgan Consumer Confidence increased 1.5pts to 95.0 on September 26/27, 2020 and is now 19.7pts lower than a year ago on the comparable weekend of September 28/29, 2019 (114.7) and is now above the 2020 weekly average of 93.7.
Consumer Confidence has now increased for four straight weeks and is up 4.8pts since ending August at 90.2. Driving this week’s increase was more confidence about the economic prospects for Australia over the next year and over the longer-term of the next five years.
Current financial conditions
Now 24% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 35% (unchanged) say their families are ‘worse off’ financially.
Future financial conditions
Current economic conditions
Although improving this week only 8% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator for over three months since June 20/21) while 38% (down 5ppts), expect ‘bad times’ (the lowest figure for this indicator for three months since June 13/14).
Future financial conditions
Time to buy a major household item
Australians are almost evenly split on whether now is the time to purchase major household items with a decreasing proportion of Australians, 34% (down 1ppt), saying now is a ‘good time to buy’ major household items, while 35% (unchanged), say now is a ‘bad time to buy’.
ANZ senior economist, Catherine Birch, commented:
“Consumer confidence improved for the fourth week straight to its highest level in more than three months. By far the largest contribution came from “current economic conditions”, which has jumped almost 20% over the past fortnight. This likely reflects expectations for significant additional spending to be announced in next week’s federal budget. In the Treasurer’s speech last week, he outlined an updated fiscal strategy focussing on the jobs and economic recovery, rather than repairing the fiscal position, until the unemployment rate is “comfortably” back under 6%. In contrast, “current financial conditions” has effectively plateaued for several weeks. This indicator will be one to watch as JobSeeker and JobKeeper payments are reduced.”
Latest ANZ-Roy Morgan Consumer Confidence Releases
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 2020 Weekly Australian Consumer Confidence Results
ANZ-Roy Morgan Monthly Australian Consumer Confidence Results (1973-2020)
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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.
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