February 02, 2021

ANZ-Roy Morgan Consumer Confidence up 0.9pts to 112.1 – boosted by greater confidence about personal finances

Topic: Consumer Confidence, Press Release
Finding No: 8615
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ANZ-Roy Morgan Consumer Confidence was up by 0.9pts to 112.1 on January 30/31, 2021. Consumer Confidence is now 16.1pts above the 2020 weekly average of 96.0 and is 3.6pts higher than the same week a year ago, February 1/2, 2020 (108.5).
The increase in Consumer Confidence this week has been driven by increasing confidence about people’s personal financial situations with more Australians saying they are ‘better off’ financially than a year ago and more expecting to be ‘better off’ financially this time next year.

Current financial conditions

  • Now 29% (up 3ppts) of Australians say their families are ‘better off’ financially than this time last year (the highest figure for this indicator since pre-COVID-19 lockdowns on March 14/15, 2020) and 27% (down 2ppts), say their families are ‘worse off’ financially (the lowest figure for this indicator since pre-COVID-19 lockdowns on March 14/15, 2020).

Future financial conditions

  • In addition, 42% (up 4ppts) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator for nearly a year since February 15/16, 2020) compared to 12% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

  • Slightly fewer Australians, 17% (down 1ppt), expect ‘good times’ for the Australian economy over the next 12 months while 18% (up 2ppts), expect ‘bad times’.

Future economic conditions

  • In the longer term, a quarter of Australians, 25% (down 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 12% (up 2ppts) expecting ‘bad times’.

Time to buy a major household item

  • An increasing plurality of Australians, 42% (up 2ppts), say now is a ‘good time to buy’ major household items, while only 25% (unchanged), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"The second week of gains in consumer confidence reflects the improved assessment of personal financial conditions, consistent with the improving labour market. The pullback in ‘economic conditions’ is somewhat of a rebalancing following its sharp surge the previous week. The headline confidence level is close to its long-term average, for the first time since late 2019. This suggests momentum in the economy remains positive. Weekly inflation expectations rose 0.1ppt to 3.8% and has now effectively reversed all of fall in expectations seen during the early months of the pandemic. News of the lockdown of Perth and southwest Western Australia came too late to impact the survey."

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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