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ANZ-Roy Morgan Consumer Confidence up 2.2pts to 110.0 after Government increases support to those in lockdown in NSW
July 13 2021
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,488 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend July 10/11, 2021.
ANZ-Roy Morgan Consumer Confidence increased 2.2pts to 110.0 this week after the Federal Government announced an increase in support to those impacted by the lockdown in Sydney. Consumer Confidence is now sitting just below the 2021 weekly average of 111.2, however remains 18.4 points higher than the same week a year ago, July 11/12, 2020 (91.6).
There was good news for much of the country this week with both Perth and Brisbane ending their short lockdowns and an increase in support to those in NSW impacted by the lockdown. Perth continues to have the highest Consumer Confidence of the mainland Capital Cities while Sydney has the lowest.
Current financial conditions
- Currently, 27% (unchanged) of Australians say their families are ‘better off’ financially than this time last year and 27% (unchanged), say their families are ‘worse off’ financially.
Future financial conditions
Current economic conditions
- Less than a fifth of Australians, 17% (up 1 ppt) expect ‘good times’ for the Australian economy over the next twelve months while 18% (down 1ppt), expect ‘bad times’.
Future economic conditions
- In the longer term, just over a fifth of Australians, 21% (up 2ppts), are expecting ‘good times’ for the economy over the next five years compared to 14% (down 2ppts) expecting ‘bad times’.
Time to buy a major household item
- An increasing number of Australians, 43% (up 2ppts), say now is a ‘good time to buy’ major household items while 24% (unchanged) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"Consumer confidence rose 2.0% despite the announcement of a third week of lockdown in Sydney as daily COVID-19 cases jumped. The easing of criteria for the federal government’s AUD500 assistance payment may have helped, with Sydney itself recording a 3.7% rise in confidence after the plunge the prior week. The emergence of Brisbane, Perth and Darwin from their lockdowns also added to the rebound. A comparison between Sydney and Melbourne (Figure 1) shows that even though there is a sharp decline in confidence in the particular city whenever a lockdown is imposed, sentiment tends to be similar in both cities and there was no great divergence even during Melbourne’s prolonged lockdown in 2020."
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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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