ANZ-Roy Morgan Consumer Confidence down 2.1pts to 104.5 ending record streak of eleven consecutive weekly increases

ANZ-Roy Morgan Consumer Confidence dropped 2.1pts to 104.5 on November 21/22, 2020 and is now 9.6pts above the 2020 weekly average of 94.9 and only 2.3pts lower than a year ago on the comparable weekend of November 23/24, 2019 (106.8).

Consumer Confidence ended its record streak of eleven consecutive weekly increases by dropping 2.1pts to 104.5 this week following an outbreak of COVID-19 in South Australia that caused a short-lived state-wide shut-down for three days. Consumer Confidence dropped in both Adelaide and South Australia and also in other cities around the nation.

Driving this week’s decrease is fewer people saying they’re better off financially than this time last year and less confidence about the performance of the Australian economy into the future.

Current financial conditions

• Now 23% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year and just under a third, 32% (unchanged), say their families are ‘worse off’ financially.

Future financial conditions

• In addition, 39% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator for over eight months since early March 2020) compared to 16% (up 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

• Over one-in-eight Australians 14% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months while 27% (up 3ppts), expect ‘bad times’.

Future economic conditions

• In the longer term, fewer than a quarter of Australians, 23% (down 2ppts), are expecting ‘good times’ for the economy over the next five years compared to 13% (unchanged) expecting ‘bad times.

Time to buy a major household item

• In good news for retailers in the lead-up to Christmas an increasing plurality of Australians, 40% (up 1ppt), say now is a ‘good time to buy’ major household items, while 29% (up 3ppts), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

“Consumer confidence broke its record 11 week winning streak and slipped 2% as South Australia went into a short and sharp lockdown. The nationwide index remains above the neutral level, but South Australia’s index dropped below the 100 level. New South Wales and Queensland gave up some recent gains, while Victoria saw a very modest decline. With South Australia reopening earlier than expected and restrictions in Victoria and New South Wales relaxed the impact on sentiment may be short-lived.”

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)
ANZ-Roy Morgan New Zealand Consumer Confidence Results (All 5 Questions)
Roy Morgan Indonesian Consumer Confidence Results (All 5 Questions)
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.

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

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