ANZ-Roy Morgan Consumer Confidence virtually unchanged at 112.2 but down in Sydney (-4.6%) as Melbourne recovers (+2.4%)
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 112.2 this week although there were contrasting movements in Australia’s two largest cities with Sydney down 4.6% while Melbourne increased 2.4% on a week ago as the city continued to recover from its recent lockdown. Consumer Confidence is just above the 2021 weekly average of 111.4 and is 19.2pts higher than the same week a year ago, June 27/28, 2020 (93).
Interviewing this week was largely conducted before the Sydney-wide lockdown began on Saturday night and before many restrictions and border closures were announced in other States. This week’s small decrease was driven by small drops in how people perceive their financial situations.
Current financial conditions
- Now 28% (down 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, a plurality of 38% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to only 13% (down 3ppts) that expect to be ‘worse off’ financially.
Current economic conditions
- Just under a fifth of Australians, 19% (down 2ppts) expect ‘good times’ for the Australian economy over the next twelve months while 15% (up 2ppts), expect ‘bad times’.
Future economic conditions
- In the longer term, over a fifth of Australians, 21% (down 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (unchanged) expecting ‘bad times.
Time to buy a major household item
- An increasing plurality of Australians, 45% (up 3ppts), say now is a ‘good time to buy’ major household items while 24% (unchanged) say now is a ‘bad time to buy’.
ANZ Senior Economist, Felicity Emmett, commented:
"Headline consumer confidence barely moved last week, dropping only 0.2% from the week before. With new COVID-19 cases rising quite rapidly in NSW over the week, confidence in Sydney fell 4.6%, while in regional NSW it fell 6.6%. The impact of this was largely offset by ongoing recovery in confidence in Melbourne and further gains in confidence elsewhere. Recent experience suggests sentiment will respond to case numbers and lockdown measures in the coming weeks: if case numbers remain high, confidence is likely to deteriorate, but if they come back under control quickly and restrictions look likely to be short-lived sentiment is likely to rebound."
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.
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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 |
