ANZ-Roy Morgan Consumer Confidence increases for sixth straight week, up 1.4pts to 107.0 with Melbourne lockdown set to end
ANZ-Roy Morgan Consumer Confidence was up for the sixth straight week, up by 1.4pts to 107.0 in mid-October. However, Consumer Confidence remains below the 2021 weekly average of 108.3 but is now 8.9 points higher than the same week a year ago, October 17/18, 2020 (98.1).
ANZ-Roy Morgan Consumer Confidence was up for the sixth straight week, up by 1.4pts to 107.0 in mid-October. However, Consumer Confidence remains below the 2021 weekly average of 108.3 but is now 8.9 points higher than the same week a year ago, October 17/18, 2020 (98.1).
Consumer Confidence this week was up in Sydney following the end of the city’s 106-day lockdown and also increased in Melbourne with the news that the lockdown would soon be ending and in Brisbane after that city avoided a lockdown despite concerns about a handful of cases.
Driving this week’s small increase was increasing confidence about the year ahead with more Australians expecting to be ‘better off’ this time next year and more Australians expecting ‘good times’ for the Australian economy over the next year.
Current financial conditions
- Now 27% (unchanged) of Australians say their families are ‘better off’ financially than this time last year compared to 26% (unchanged), that say their families are ‘worse off’ financially.
Future financial conditions
- An increasing plurality of 38% (up 2ppts) 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 19% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 20% (down 3ppts), expect ‘bad times’.
Future economic conditions
- In the longer term, a fifth of Australians, 20% (unchanged), are expecting ‘good times’ for the economy over the next five years compared to 16% (unchanged) expecting ‘bad times’.
Time to buy a major household item
- Buying intentions improved this week with 37% (unchanged) of Australians, saying now is a ‘good time to buy’ major household items while 30% (unchanged) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“Consumer confidence rose 1.3% nationally as greater Sydney reopened last week after more than three months in lockdown. The rise in confidence in the city over the past two weeks has been quite modest at 3.5%. This compares with the 9.2% rise over the first two weeks of reopening last year in May 2020. The difference reflects the level of confidence. Sentiment in Sydney is already above its 2021 average, while in May last year the lockdown ended with sentiment still at very depressed levels. Confidence also rose in Melbourne (5.4%) as its lockdown has been scheduled to end earlier than anticipated and is back to the level it was in mid-July.”
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 |
