July 26, 2022

ANZ-Roy Morgan Consumer Confidence up slightly by 0.6pts to 82.4 – a second straight weekly increase

Topic: Consumer Confidence
Finding No: 9030
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ANZ-Roy Morgan Consumer Confidence was at 82.4 (up 0.6pts) but is a large 18.3pts below the same week a year ago, July 24/25, 2021 (100.7). In addition, Consumer Confidence is now 10.2pts below the 2022 weekly average of 92.6.

On a State-based level Consumer Confidence was up in NSW, Victoria, WA and SA but down in Queensland. This week’s small increase was due to slightly more positive views on personal finances and that now is a good time to buy major household items.

Current financial conditions

  • Now 23% of Australians (up 2ppts) say their families are ‘better off’ financially than this time last year compared to 43% (down 3ppts), that say their families are ‘worse off’ financially

Future financial conditions

  • Looking forward, fewer than a third of Australians, 30% (unchanged), expect their family to be ‘better off’ financially this time next year compared to 35% (up 2ppts), that expect to be ‘worse off’.

Current economic conditions

  • Only 6% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to 39% (unchanged), that expect ‘bad times’

Future economic conditions

  • In the longer term, just 11% (down 4ppts) of Australians are expecting ‘good times’ for the economy over the next five years compared to 20% (unchanged) expecting ‘bad times’.

Time to buy a major household item

  • When it comes to buying intentions now just 25% (up 2ppts) of Australians, say now is a ‘good time to buy’ major household items while 46% (down 2ppts), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

Block Quote

There was another small improvement in consumer confidence of 0.7% last week, after the 0.2% increase the week before. Increases in the expected ‘financial situation compared to a year ago’ and whether it is a ‘good time to buy a major household item’ were the main drivers of sentiment. Confidence, however, remained very weak and at levels last seen during the early stages of the COVID-19 pandemic. Household inflation expectations rose by 0.2ppt to 6.0%. Headlines about another surge in actual inflation when the Q2 CPI is published will likely place some downward pressure on sentiment this week.”

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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