ANZ-Roy Morgan Consumer Confidence virtually unchanged at 109.0 (up 0.6pts) in the first week of November (up in Sydney, but down in Melbourne)
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 109.0 (up 0.6pts on a week ago) on the first weekend of November. Consumer Confidence is now 0.7pts above the 2021 weekly average of 108.3 and 5.9 points higher than the same week a year ago, November 7/8, 2020 (103.1).
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 109.0 (up 0.6pts on a week ago) on the first weekend of November. Consumer Confidence is now 0.7pts above the 2021 weekly average of 108.3 and 5.9 points higher than the same week a year ago, November 7/8, 2020 (103.1).
Looking around Australia Consumer Confidence this week was up in Sydney (up 4.4pts to 112.4), Perth (up 11.2pts to 118.5) and Adelaide (up 5.6pts to 109.0), but down in Melbourne (down 5pts to 107.6) and Brisbane (down 4.4pts to 105.8). The decline in Melbourne follows extensive protests against vaccine mandates and the Victorian Government's proposed new pandemic-related legislation in Melbourne and significant revelations of potentially corrupt behaviour at Victoria's Independent Broad-based Anti-corruption Commission (IBAC) concerning several members of the Victorian Government.
This week’s small increase was driven by Australians becoming more confident about the performance of the economy over the next year and next five years.
Current financial conditions
- Now 31% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year compared to 26% (up 1ppt), that say their families are ‘worse off’ financially.
Future financial conditions
- An increasing plurality of 40% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, compared to 15% (down 1ppt) that expect to be ‘worse off’ financially.
Current economic conditions
- An increasing proportion of 19% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 19% (unchanged), expect ‘bad times’.
Future economic conditions
- In the longer term, a fifth of Australians, 20% (up 1ppt), are expecting ‘good times’ for the economy over the next five years compared to 17% (down 1ppt) expecting ‘bad times’.
Time to buy a major household item
- Buying intentions improved again this week with 40% (down 1ppt) of Australians, saying now is a ‘good time to buy’ major household items while 28% (unchanged) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“‘Consumer confidence increased 0.6% last week. There was an improvement in Sydney (4.1%), but confidence declined in regional NSW (-1.0%). Confidence in Melbourne dropped -4.4%, while for the rest of Victoria it was up 9.4%. Among the other states, confidence declined in Queensland (-6.0%) but rose in South Australia (5.2%) and Western Australia (11.9%). Since its recent low in early August, consumer confidence is up a touch over 10% and is getting close to its long-run average. There is quite a divergence across states, with sentiment unsurprisingly highest in WA but now lowest in Queensland. While the four-week average for inflation expectations edged higher, the weekly reading hasn’t shown any real upward movement since September’s jump.”
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
Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
