May 11, 2021

ANZ-Roy Morgan Consumer Confidence down slightly by 1.1pts to 111.6 driven by steep fall in Sydney as new COVID-19 cases discovered

Topic: Consumer Confidence, Press Release
Finding No: 8695
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ANZ-Roy Morgan Consumer Confidence was down 1.1pts to 111.6 this week. Consumer Confidence remains just above the 2021 weekly average of 111.1 and is a huge 21.3pts higher than the same week a year ago, May 9/10, 2020 (90.3).

The small decrease this week was driven by declines in how people perceive their personal financial situations and whether now is a ‘good/bad time to buy major household items’.

Current financial conditions

  • Now 26% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year and 25% (unchanged), say their families are ‘worse off’ financially.

Future financial conditions

  • In addition, 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to only 14% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

  • Just over one-in-five Australians, 22% (up 1ppt), expect ‘good times’ for the Australian economy over the next 12 months while only 12% (down 2ppts), expect ‘bad times’ (a record low figure for this indicator stretching back over forty years).

Future economic conditions

  • In the longer term, just over a fifth of Australians, 22% (up 2ppts), are expecting ‘good times’ for the economy over the next five years compared to only 13% (unchanged) expecting ‘bad times’.

Time to buy a major household item

  • Now two-fifths of Australians, 40% (down 4ppts), say now is a ‘good time to buy’ major household items while 25% (up 2ppts) say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"The most notable thing from the latest survey is that the proportion of respondents expecting ‘bad times’ in ‘current economic conditions’ dropped to just 12%, its lowest level in over forty years. This sharp improvement came about despite the 1% fall in overall consumer confidence and points to positive sentiment about the near-term outlook being very widespread. The fall in overall confidence was not surprising given that Sydney recorded a mysterious case of COVID-19, and restrictions were imposed to prevent any further spread. As a result, confidence in Sydney took a hit of 7.6%."

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

Related Findings

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