February 04, 2020

Despite everything ANZ-Roy Morgan Consumer Confidence virtually unchanged at 108.5

Topic: Consumer Confidence, Press Release
Finding No: 8266
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Confidence edged up a touch last week, reversing the prior week’s decline. It remains well below average.

  • Overall financial conditions were little changed, with offsetting moves in ‘current’ and ‘future’ finances.
  • We also saw offsetting moves in economic conditions. ‘Current economic conditions’ gained 2.1%, while ‘future economic conditions’ declined 2.5% last week.
  • ‘Time to buy a major household item’ gained 2.7% compared to a decline of 2.4% previously. The four-week moving average of ‘inflation expectations’ was up by 0.1ppt to 4.0%. The weekly reading rose to 4.2%, its highest level since early September, perhaps reflecting the lift in headline inflation reported in the December 2019 CPI report.

ANZ Head of Australian Economics, David Plank, commented:

Block Quote

“Broadly stable consumer confidence in the face of news about the coronavirus, albeit at a level well below average, provides some comfort for the outlook. The decisive policy action taken the Government to protect the health and wellbeing of Australian citizens may be seen as a positive development that provides at least some offset to community concerns about the health and economic consequences of the virus. The coming week will be dominated by RBA commentary and some key data, not least the December retail sales figure, which is expected to confirm weak Christmas spending.”

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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