ANZ-Roy Morgan Consumer Confidence virtually unchanged at 101.8 as vaccination levels rise but lockdowns continue
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 101.8 this week and is still well below the 2021 weekly average of 109.2. Consumer Confidence is now 11.6 points higher than the same week a year ago, August 29/30, 2020 (90.2).
Consumer Confidence is again lowest in Victoria and NSW just below the neutral level of 100. Consumer Confidence in South Australia and Queensland is just above 100 while it is significantly higher in Western Australia at over 110.The increase in Consumer Confidence this week was driven by improving sentiment about people’s personal financial situations this time next year.
Current financial conditions
- Now 26% (down 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 26% (unchanged), say their families are ‘worse off’ financially.
Future financial conditions
- An increasing plurality of 37% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, compared to only 14% (unchanged) that expect to be ‘worse off’ financially.
Current economic conditions
- However, only 12% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 29% (down 4ppts), expect ‘bad times’.
Future economic conditions
- In the longer term, just under a fifth of Australians, 18% (down 4ppts), are expecting ‘good times’ for the economy over the next five years compared to 17% (down 2ppts) expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were unchanged this week with 35% of Australians saying now is a ‘good time to buy’ major household items while an unchanged 33% say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"Consumer confidence rose 0.2% last week despite rising COVID case numbers. Sentiment in Sydney gained 0.9%, as daily case numbers rose above 1,000 for the first time. Confidence fell in Brisbane (-1.6%), Melbourne (-1.9%), Adelaide (-8.6%) and Perth (-0.8%). The overall steady outlook may reflect the increasing vaccination rates across the country and the hope that this will eventually bring lockdowns and border closures to an end."
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 |
