May 18, 2021

ANZ-Roy Morgan Consumer Confidence up to 112.5 powered by increase in ‘good time to buy’ now highest since February 2020

Topic: Consumer Confidence, Press Release
Finding No: 8700
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ANZ-Roy Morgan Consumer Confidence was up 0.9pts to 112.5 this week. Consumer Confidence remains above the 2021 weekly average of 111.2 and is a huge 20.2pts higher than the same week a year ago, May 16/17, 2020 (92.3).

This week’s increase was driven by more Australians saying they are ‘better off financially’ than this time a year ago and more saying now is a ‘good time to buy major household items’ – now at its highest since February 2020 after Treasurer Josh Frydenberg delivered a largely well received Federal Budget last week.

Current financial conditions

  • Now 28% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year and 25% (unchanged), say their families are ‘worse off’ financially.

Future financial conditions

  • In addition, 37% (unchanged) 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

  • One-in-five Australians, 20% (down 2ppts), expect ‘good times’ for the Australian economy over the next 12 months while only 14% (up 2ppts), expect ‘bad times’.

Future economic conditions

  • In the longer term, just over a fifth of Australians, 22% (unchanged), are expecting ‘good times’ for the economy over the next five years compared to only 14% (up 1ppt) expecting ‘bad times’.

Time to buy a major household item

  • An increasing plurality of Australians, 45% (up 5ppts), say now is a ‘good time to buy’ major household items (the highest figure for this indicator since pre-pandemic in February 2020) while 22% (down 3ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator for over a year since February 2020).

ANZ Head of Australian Economics, David Plank, commented:

"Consumer confidence increased by 0.8%, with sentiment in Sydney jumping 5.4% as no new community cases of COVID-19 were reported. The greater than expected spending promised by the government in the federal budget may have also provided a boost to confidence. Among the detail, 45% of the responders said it is a ‘good time to buy a major household item’ versus 22% for it being a ‘bad time to buy’, which are respectively the highest and lowest values since February 2020."

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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