May 04, 2021

ANZ-Roy Morgan Consumer Confidence up slightly to 112.7

Topic: Consumer Confidence
Finding No: 8685
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ANZ-Roy Morgan Consumer Confidence was up 0.3pts to 112.7 this week. Consumer Confidence remains above the 2021 weekly average of 111.1 and is a huge 23.2pts higher than the same week a year ago, May 2/3, 2020 (89.5).

The small increase this week was driven by improvements to how people perceive their personal financial situation compared to a year ago and an expected improvement over the year ahead.

Current financial conditions

  • Now 30% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year and 25% (down 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

  • In addition, 38% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to only 14% (up 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

  • Just over one-in-five Australians, 21% (unchanged), expect ‘good times’ for the Australian economy over the next 12 months while only 14% (down 1ppt), expect ‘bad times’ (the lowest figure for this indicator for over a decade since October 2010).

Future economic conditions

  • In the longer term, a fifth of Australians, 20% (down 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (up 1ppt) expecting ‘bad times’.

Time to buy a major household item

  • An unchanged plurality of Australians, 44%, say now is a ‘good time to buy’ major household items while 23% (also unchanged) say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"Confidence rose by 0.3% across Australia over the past week, with a gain of 1.3% in Perth. The magnitude of the Perth gain is much smaller than the one following Perth’s lockdown at the end of January – possibly because another few cases of infection and the bad news out of India have the city and country somewhat on edge. There was some strength in ‘current financial conditions’, which rose by 2.2%. This gain could be a result of the announcements made about the Budget such as additional funding for childcare. Overall confidence is just above the long-run average."

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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