Roy Morgan Research
August 24, 2021

ANZ-Roy Morgan Consumer Confidence up slightly to 101.6 despite lockdown extensions in Sydney, Melbourne and Canberra

Topic: Consumer Confidence, Press Release
Finding No: 8785
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ANZ-Roy Morgan Consumer Confidence increased by 0.5pts to 101.6 this week although Consumer Confidence is still well below the 2021 weekly average of 109.4. Consumer Confidence is now only 8.9 points higher than the same week a year ago, August 22/23, 2020 (92.7).

Consumer Confidence is now lowest in Victoria and NSW just below the neutral level of 100. Consumer Confidence in Queensland is just above 100 while it is significantly higher in both Western Australia and South Australia at over 110.The increase in Consumer Confidence this week was driven by improving sentiment about people’s personal financial situations compared to a year ago. 

Current financial conditions

  • Now 29% (up 4ppts) of Australians say their families are ‘better off’ financially than this time last year and 26% (down 3ppts), say their families are ‘worse off’ financially.

Future financial conditions

  • A decreasing plurality of 35% (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

  • However, only 12% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 33% (up 5ppts), expect ‘bad times’.

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 19% (up 2ppts) expecting ‘bad times’.

Time to buy a major household item

  • Improving slightly this week were buying intentions with 35% (up 1ppt) of Australians saying now is a ‘good time to buy’ major household items while an unchanged 33% say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"Consumer confidence rose 0.5% last week amidst rising cases and fresh lockdowns in Victoria and the ACT and an extension of the one in Sydney. The overall figure was due to rises of 8.0% in SA, 11.4% in WA and 1.7% in Brisbane. The news about the strength of the labour market in July with, unemployment rate dropping to 4.6%, might have added to the positive outlook. Confidence in Victoria and NSW remained at the lowest level among the states, falling 2.9% and 1.9% respectively. But even with this drop, sentiment in these two states remains well above the lows of last year. This supports our expectation that household spending will likely rebound sharply in lockdown areas when restrictions ease."

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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