September 15, 2020

ANZ-Roy Morgan Consumer Confidence up 1.3pts to 92.4 as new cases of COVID-19 in Victoria continued declining

Topic: Consumer Confidence, Press Release
Finding No: 8515
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ANZ-Roy Morgan Consumer Confidence increased 1.3pts to 92.4 on September 12/13, 2020 and is now 16.9pts lower than a year ago on the comparable weekend of September 14/15, 2019 (109.3) and 1.3pts below the 2020 weekly average of 93.7.

ANZ-Roy Morgan Consumer Confidence increased 1.3pts to 92.4 on September 12/13, 2020 and is now 16.9pts lower than a year ago on the comparable weekend of September 14/15, 2019 (109.3) and 1.3pts below the 2020 weekly average of 93.7.

Consumer Confidence was up strongly in Perth to 103.8 and Brisbane to 96.5, but fell in Melbourne to only 85.8 after Stage 4 lockdown restrictions were extended until the end of September. Driving this week’s increase was more Australians saying now is a ‘good time to buy’ major household items.

Current financial conditions

  • Now 25% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 34% (down 2ppts) say their families are ‘worse off’ financially.


Future financial conditions

  • In addition, 34% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to 20% (unchanged) that expect to be ‘worse off’ financially.


Current economic conditions

  • However only 6% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months while 47% (up 1ppt), expect ‘bad times’.


Future financial conditions

  • In the longer term, just over a sixth, 17% (unchanged) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 21% (up 3ppts) expecting ‘bad times’.


Time to buy a major household item

  • An increasing proportion of Australians, 37% (up 3ppts), say now is a ‘good time to buy’ major household items, while 35% (down 2ppts), say now is a ‘bad time to buy’.


ANZ Head of Australian Economics, David Plank, commented:

Block Quote

“Consumer confidence rose for the second consecutive week. It was weaker in Melbourne, though, dropping more than 5% from the prior week. This suggests the announcement of the long path out of lockdown restrictions negatively impacted sentiment. Confidence was also weaker in Sydney, dropping more than 3% from the previous week. Confidence was higher across regional Victoria, and is now back above the neutral level of 100 in Perth. Across the sub-indices, the ‘time to buy a major household item’ index is above the neutral level of 100 for the first time since end June. It joins ‘future finances’ above the neutral level. As discussions pick up around the October budget, we will be watching for signs that talk about tax cuts and job creation measures may impact consumer confidence.”


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

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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