ANZ-Roy Morgan Consumer Confidence down 4.4pts to 107.8 after multiple major Australian cities placed into lockdown
ANZ-Roy Morgan Consumer Confidence decreased a further 4.4pts to 107.8 this week after multiple Australian cities were concurrently placed under lockdown. Consumer Confidence plunged in Sydney (down 10pts) and Brisbane (down 8.7pts) and is now sitting below the 2021 weekly average of 111.2, however remains 15.7 points higher than the same week a year ago, July 4/5, 2020 (92.1).
ANZ-Roy Morgan Consumer Confidence decreased a further 4.4pts to 107.8 this week after multiple Australian cities were concurrently placed under lockdown. Consumer Confidence plunged in Sydney (down 10pts) and Brisbane (down 8.7pts) and is now sitting below the 2021 weekly average of 111.2, however remains 15.7 points higher than the same week a year ago, July 4/5, 2020 (92.1).
There were falls across all five indexes this week with the largest falls concerning Australia’s economic prospects over the next year and next five years.
Current financial conditions
- Currently, 27% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 27% (up 2ppts), say their families are ‘worse off’ financially.
Future financial conditions
- In addition, a plurality of 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year compared to only 15% (up 2ppts) that expect to be ‘worse off’ financially.
Current economic conditions
- Only around a sixth of Australians, 16% (down 3ppts), expect ‘good times’ for the Australian economy over the next twelve months while 19% (up 4ppts), expect ‘bad times’.
Future economic conditions
- In the longer term, just under a fifth of Australians, 19% (down 2ppts), are expecting ‘good times’ for the economy over the next five years compared to 16% (up 3ppts) expecting ‘bad times’.
Time to buy a major household item
- A decreasing number of Australians, 41% (down 4ppts), say now is a ‘good time to buy’ major household items while 24% (unchanged) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“Consumer confidence dropped 3.9% over the past week to its lowest level since the first week of April. The fall came as lockdowns and restrictions broadened across a number of states to control the spread of the more infectious Delta variant of the pandemic. The drop in sentiment wasn’t confined to those areas directly impacted by restrictions. For instance, while it fell by 8.9% in Sydney it also declined by 1.6% in the rest of NSW. Confidence fell in most other cities as well: Brisbane (-7.7%), Melbourne (-2.7%) and Adelaide (-6.5%). With the lockdowns in Brisbane and Perth coming to an end, we can expect confidence, and consumer spending, to rebound reasonably quickly given past experience, but much will depend on whether restrictions in Sydney are able to be eased.”
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
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 |
