ANZ-Roy Morgan Consumer Confidence increases for ninth straight week, up 5.6pts to 98.3

Topic: Consumer Confidence, Press Release

Finding No: 8430

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Confidence strengthened further last week, with all the sub-indices gaining compared to the previous reading. The nine-week run is the most extended run of consecutive gains since the index changed to a weekly format in 2008.

Current financial conditions

Now 24% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 36% (unchanged) say their families are ‘worse off’ financially.

Future financial conditions

38% (unchanged), expect their family to be ‘better off’ financially this time next year compared to 17% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

Just 10% (up 4ppts) expect ‘good times’ for the Australian economy over the next 12 months while 42% (down 6ppts) expect ‘bad times’.

Future financial conditions

And in the longer term, 24% (up 4ppts) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 17% (down 3ppts) expecting ‘bad times’.

Time to buy a major household item

In addition now 42% (up 7ppts) of Australians say now is a ‘good time to buy’ major household items, while 34% (down 4ppts) of Australians say now is a ‘bad time to buy’.

The four-week moving average for ‘inflation expectations’ remained unchanged at 3.3%. The weekly reading decreased to 3.1% from 3.2%.

ANZ Head of Australian Economics, David Plank, commented:

“On the back of strong gains in the ‘economic conditions’ subindices, confidence strengthened further last week. Nine weekly gains in a row is unprecedented. To be fair, though, so was the depth of the starting point. More good news about control of the pandemic and the consequent relaxation of restrictions is key to the lift in sentiment. Expectations of residential housing stimulus and lower petrol prices may also be playing a role. Though lower petrol prices are also contributing to the record low in inflation expectations..”

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 ninth straight week, up 5.6pts to 98.3

ANZ Head of Australian Economics, David Plank, commented:

Margin of Error

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