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ANZ-Roy Morgan Consumer Confidence increases for sixth straight week, up 2pts to 97.7 – up in Melbourne, Brisbane & Perth
October 13 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,511 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend October 10/11, 2020.
ANZ-Roy Morgan Consumer Confidence increased 2pts to 97.7 on October 10/11, 2020 and is now 13.2pts lower than a year ago on the comparable weekend of October 12/13, 2019 (110.9) and is now almost 4pts above the 2020 weekly average of 93.9. Consumer Confidence is now at its highest for over four months since May 30/31, 2020 (98.5).
Consumer Confidence has now increased for sixth straight weeks and is up 7.5pts since ending August at 90.2. Driving this week’s increase was more confidence about both personal financial situations and the Australian economy at large over the next year.
Current financial conditions
Now 24% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 33% (down 1ppt) say their families are ‘worse off’ financially (the lowest figure for this indicator for over six months since March 2020).
Future financial conditions
Current economic conditions
Now one-in ten Australians, 10% (up 2ppts), expect ‘good times’ for the Australian economy over the next 12 months while 37% (down 1ppt), expect ‘bad times’ (the lowest figure for this indicator for over seven months since February 2020).
Future economic 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% (down 1ppt), say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“Consumers have given a thumbs up to the Budget, with sentiment rising 2.1% to its highest level since the last weekend of May. This is the second best postbudget gain in the last six years. There were healthy gains in ‘future finances’ and ‘current’ and ‘future’ economic conditions. Surprisingly, sentiment is weaker in New South Wales, including Sydney, than it is in Melbourne. Less surprisingly, confidence is strongest (and above neutral) in Perth. It is also above neutral in Tasmania and South Australia.”
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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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