Roy Morgan Research
April 07, 2020

ANZ-Roy Morgan Consumer Confidence bounces from historical low to 71.9

Topic: Consumer Confidence, Press Release
Finding No: 8355
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Confidence posted a jump of 10.1% last week, the biggest gain since the survey shifted to a weekly basis in 2008. All the subcomponent rose, with the exception of a small decline in ‘future economic conditions.’

  • ‘Current economic conditions’ was up by a massive 24.6%. Despite this gain, this subcomponent is still 50% below its level six weeks back.
  • ‘Current financial conditions’ gained 8.8%, while future financial conditions rose 11.4%.
  • ‘Time to buy a major household item’ gained 17.5% compared to a drop of 23.8% previously. The four-week moving average for ‘inflation expectations’ was stable at 4.1%. The weekly reading dipped to 4.1% from 4.3%.

ANZ Head of Australian Economics, David Plank, commented:

Block Quote

“The 10.1% jump in confidence recorded in this survey was the biggest since it became a weekly survey in 2008. We think it represents a strong endorsement of the Government’s massive wage subsidy package, announced on 30 March. Better news about the flattening of the ‘pandemic curve’ may also have contributed. The bounce needs to be kept in perspective – confidence is still around the lows seen in 1990 during the last recession. So consumers can hardly be said to be cheerful or ready to spend. But it is nice to be commenting on some better news.”

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

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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

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