ANZ-Roy Morgan Consumer Confidence falls 1.8pts to a neutral result of 100.0 with positive and negative sentiment now evenly balanced

ANZ-Roy Morgan Consumer Confidence fell slightly by 1.8pts to 100.0 this week with sentiment now evenly balanced between positive and negative sentiment. Consumer Confidence is well below the 2021 weekly average of 108.9. Consumer Confidence is now 8.9 points higher than the same week a year ago, September 5/6, 2020 (91.1).

Consumer Confidence fell this week in both Victoria and NSW and is now clearly below the neutral level of 100 in both States and both Sydney and Melbourne. Consumer Confidence in South Australia and Queensland is just above 100 while it is significantly higher in Western Australia at over 110.

This week’s decrease in Consumer Confidence driven by the declines in NSW and Victoria as well as small falls in views towards people’s personal financial situations and whether now is a ‘good/bad time to buy major household items.

Current financial conditions

• Now 26% (unchanged) of Australians say their families are ‘better off’ financially than this time last year while slightly more, 29% (up 3ppts), say their families are ‘worse off’ financially.

Future financial conditions

• Just over a third, 34% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, compared to only 16% (up 2ppts) that expect to be ‘worse off’ financially.

Current economic conditions

• However, only 11% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 28% (down 1ppt), expect ‘bad times’.

Future economic conditions

• In the longer term, a fifth of Australians, 20% (up 2ppts), are expecting ‘good times’ for the economy over the next five years compared to 17% (unchanged) expecting ‘bad times’.

Time to buy a major household item

• Buying intentions were slightly weaker this week with a third, 33% (down 2ppts) of Australians, saying now is a ‘good time to buy’ major household items while just over a third, 34% (up 1ppt) say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

"Consumer confidence declined 1.8% last week despite rising vaccination rates and reasonably good economic news in the form of the 0.7% rise in Q2 GDP. Sentiment dropped in Sydney (-5.3%), Melbourne (-0.8%) and Brisbane (-2.9%), while Adelaide (+5.0%) and Perth (+2.3%) lifted. The most notable thing in this week’s release is the jump in inflation expectations to its highest level in almost three years. The weekly reading can be volatile so we need to be a bit cautious about overplaying the move, but if sustained it will cement the sharpest jump in inflation expectations since we moved to collecting the data on a weekly basis."

Latest ANZ-Roy Morgan Consumer Confidence Releases.

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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