ANZ-Roy Morgan Consumer Confidence up 1.6pts to 111.9

Current financial conditions

• Now 26% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 27% (down 2ppts), say their families are ‘worse off’ financially.

Future financial conditions

• In addition, 39% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year compared to only 13% (down 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

• An increasing proportion of Australians, 22% (up 4 ppts), expect ‘good times’ for the Australian economy over the next 12 months while 16% (down 1ppt), expect ‘bad times’.

Future economic conditions

• In the longer term, over a quarter of Australians, 26% (up 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

• An increasing plurality of Australians, 41% (down 1ppt), say now is a ‘good time to buy’ major household items, while 25% (unchanged), say now is a ‘bad time to buy’.

"The ANZ Roy-Morgan Consumer Confidence index rose 1.5% along with generous gains in four out of five of the sub-indices. The rise likely reflects the strong gains registered by ANZ Job Ads and the GDP numbers released last week. Job Ads grew 13.4% y/y in February and Australia saw two consecutive quarters of economic growth of more than 3% for the first time in history. The long weekend of Victoria may also have contributed, as confidence rose 2.1% in the state."