ANZ-Roy Morgan Consumer Confidence up 1.4pts to 112.4 after Melbourne’s restrictions ease further
ANZ-Roy Morgan Consumer Confidence increased 1.4pts to 112.4 this week as Melbourne’s lockdown restrictions eased further. Consumer Confidence is now above the 2021 weekly average of 111.3 and is 14.9pts higher than the same week a year ago, June 20/21, 2020 (97.5).
This week’s small increase was driven by more Australians saying they are ‘better off’ financially than this time a year ago and more Australians expecting ‘good times’ for the Australian economy over the next 12 months.
Current financial conditions
- Now 30% (up 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 26% (down 2ppts), say their families are ‘worse off’ financially.
Future financial conditions
- In addition, a plurality of 39% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year compared to only 16% (up 1ppt) that expect to be ‘worse off’ financially.
Current economic conditions
- Slightly more Australians, 21% (up 3ppts) expect ‘good times’ for the Australian economy over the next twelve months while 13% (down 2ppts), expect ‘bad times’.
Future economic conditions
- In the longer term, over a fifth of Australians, 22% (up 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (up 1ppt) expecting ‘bad times’.
Time to buy a major household item
- A decreasing plurality of Australians, 42% (down 3ppts), say now is a ‘good time to buy’ major household items while 24% (down 1ppt) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"The strong labour market recovery provided a boost to consumer confidence with the index gaining 1.3% last week. The unemployment rate fell to 5.1% in May, reaching its lowest level since February 2020 - that is, before the pandemic started. This strength in the employment data overshadowed news about the emergence of a COVID cluster in Sydney. Confidence in the city rose by 5.2%, while in the rest of New South Wales it gained 2.8%. We know from recent experience, however, that sentiment will likely be impacted negatively if the outbreak worsens and greater restrictions are imposed."
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 |
