Roy Morgan Research
May 25, 2021

ANZ-Roy Morgan Consumer Confidence increases to 114.2 and now at its highest since Sep. 2019 – pre-pandemic

Topic: Consumer Confidence, Press Release
Finding No: 8705
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ANZ-Roy Morgan Consumer Confidence was up 1.7pts to 114.2 this week. Consumer Confidence is now 3pts above the 2021 weekly average of 111.3 and is a huge 21.5pts higher than the same week a year ago, May 23/24, 2020 (92.7).

This week’s increase was driven by Australians being more confident about their personal finances both compared to this time a year ago and looking forward to the same time next year.

Current financial conditions

  • Now 31% (up 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 23% (down 2ppts), say their families are ‘worse off’ financially (the lowest figure for this indicator for over a year since February 2020).

Future financial conditions

  • In addition, 41% (up 4ppts) 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

  • One-in-five Australians, 20% (unchanged), expect ‘good times’ for the Australian economy over the next 12 months while only 15% (up 1ppt), expect ‘bad times’.

Future economic conditions

  • In the longer term, just over a fifth of Australians, 23% (up 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (down 1ppt) expecting ‘bad times’.

Time to buy a major household item

  • A clear plurality of Australians, 44% (down 1ppt), say now is a ‘good time to buy’ major household items while 23% (up 1ppt) say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"Consumer confidence gained 1.5% last week. The gain was driven in a large part by the improvement in the ‘financial conditions’. The labour market numbers might have had a positive influence, with unemployment dropping to 5.5% and underemployment dropping to 7.8%. Consumer confidence may be challenged by the emergence of new COVID-19 cases in Melbourne. However, we know the impact on sentiment is temporary if the outbreak is quickly brought under control."

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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