ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 0.9pts to 104.6
ANZ-Roy Morgan Consumer Confidence was up for the fourth straight week, up by 0.9pts to 104.6 in early October. However, Consumer Confidence remains below the 2021 weekly average of 108.4 but is now 8.9 points higher than the same week a year ago, October 3/4, 2020 (95.7).
ANZ-Roy Morgan Consumer Confidence was up for the fourth straight week, up by 0.9pts to 104.6 in early October. However, Consumer Confidence remains below the 2021 weekly average of 108.4 but is now 8.9 points higher than the same week a year ago, October 3/4, 2020 (95.7).
Consumer Confidence this week was up in Sydney and Melbourne, as both cities quickly increase their vaccination rates, while down slightly in the other cities of Brisbane, Perth and Adelaide. Driving this week’s small increase was increasing confidence about the performance of the Australian economy over the next year and next five years.
Current financial conditions
- Now 29% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year compared to 27% (down 1ppt), say their families are ‘worse off’ financially.
Future financial conditions
- A decreasing plurality of 36% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, compared to 14% (unchanged) that expect to be ‘worse off’ financially.
Current economic conditions
- An increasing proportion of 16% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 25% (unchanged), expect ‘bad times’.
Future economic conditions
- In the longer term, just over a fifth of Australians, 22% (up 4ppts), are expecting ‘good times’ for the economy over the next five years compared to 17% (down 1ppt) expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were down slightly this week with 36% (down 2ppts) of Australians, saying now is a ‘good time to buy’ major household items while 33% (up 2ppts) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“Consumer confidence increased by 0.9% last week as NSW recorded a substantial drop in new COVID cases. People are optimistic but sentiment is still some way below its long-run average. With Sydney and Melbourne headed towards re-opening in the next few weeks, confidence increased in both cities by 4.4% and 1.5% respectively. The rise in Melbourne was dampened by a fall in regional Victoria of -4.1%. Confidence also declined in Adelaide (-2.1%), Brisbane (-9.0%) and Perth (-6.2%). Inflation expectations remained elevated at its recent pandemic-high.”
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 |
