ANZ-Roy Morgan Consumer Confidence increases for fifth straight week, up 4.5pts to 89.5

Topic: Consumer Confidence, Press Release

Finding No: 8395

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Confidence strengthened further, gaining 5.3% to 89.5 last week. All the subcomponents gained except for ‘Time to buy a major household item’, which fell 2.5%.

Current financial conditions

Now 23% (up 4ppts) of Australians say their families are ‘better off’ financially than this time last year and 39% (down 1ppt) say their families are ‘worse off’ financially.

Future financial conditions

36% (up 6ppts), expect their family to be ‘better off’ financially this time next year compared to 21% (down 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

Just 8% (up 2ppts) expect ‘good times’ for the Australian economy over the next 12 months while 48% (unchanged) expect ‘bad times’.

Future financial conditions

And in the longer term, 20% (up 5ppts) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 18% (down 5ppts) expecting ‘bad times’.

Time to buy a major household item

In addition now 29% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 45% (up 7ppts) of Australians say now is a ‘bad time to buy’.

The four-week moving average for ‘inflation expectations’ fell 0.3ppt to 3.4%. The weekly reading fell to 3.2% from 3.6%.

ANZ Head of Australian Economics, David Plank, commented:

“The strength in confidence last week was encouraging. Overall sentiment is now around the levels seen during the GFC, while a number of the sub-indices have returned to levels that, while still low, are within the previous historical experience. We think the gain over the past week is predominantly attributable to the further easing of COVID-19 restrictions and optimism surrounding the daily new cases figure. There is a long way to go before sentiment gets to levels where people can be said to be optimistic, however. The weakness in inflation expectations continues and could be a lasting feature of the pandemic.”

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

Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.
Business Banking Satisfaction - Monthly Report in Australia.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.

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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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ANZ-Roy Morgan Consumer Confidence increases for fifth straight week, up 4.5pts to 89.5

ANZ Head of Australian Economics, David Plank, commented:

Margin of Error

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