Roy Morgan Research
February 09, 2021

ANZ-Roy Morgan Consumer Confidence down 0.7pts to 111.4 following quarantine breach in Melbourne

Topic: Consumer Confidence, Press Release
Finding No: 8620

ANZ-Roy Morgan Consumer Confidence was down by 0.7pts to 111.4 on February 6/7, 2021. However Consumer Confidence is still 0.9pts above the 2021 weekly average of 110.5 and is 3.6pts higher than the same week a year ago, February 8/9, 2020 (107.8).
The decrease in Consumer Confidence this week has been driven by small falls in confidence about people’s personal financial situations with fewer Australians saying they are ‘better off’ financially than a year ago and fewer expecting to be ‘better off’ financially this time next year.

Current financial conditions

  • Now 26% (down 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 28% (up 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

  • In addition, 40% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year compared to 13% (up 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

  • However, an increasing proportion of Australians, 20% (up 3ppts), expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator for nearly a year since early March 2020) while 19% (up 1ppt), expect ‘bad times’.

Future economic conditions

  • In the longer term, over a quarter of Australians, 27% (up 2ppts), are expecting ‘good times’ for the economy over the next five years compared to only 13% (up 1ppt) expecting ‘bad times’.

Time to buy a major household item

  • An increasing plurality of Australians, 43% (up 1ppt), say now is a ‘good time to buy’ major household items, while only 26% (up 1ppt), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"Consumer confidence is consolidating close to its long-run average. This solidifies the recovery from 2020. Any meaningful breakout from here on will have to be on back of strong news/developments. The vaccine rollout in Australia could be the next big trigger, with a successful program possibly propelling sentiment much higher. Of course, difficulties in providing vaccine coverage could have the opposite effect."

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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