ANZ-Roy Morgan Consumer Confidence lifts 1.4pts to 107.4 as vaccination rates rise and restrictions continue to ease
ANZ-Roy Morgan Consumer Confidence was up 1.4pts to 107.4 on the second weekend of November. Consumer Confidence is below the 2021 weekly average of 108.2. However, Consumer Confidence is now 2.9 points higher than the same week a year ago, November 21/22, 2020 (104.5).
ANZ-Roy Morgan Consumer Confidence was up 1.4pts to 107.4 on the second weekend of November. Consumer Confidence is below the 2021 weekly average of 108.2. However, Consumer Confidence is now 2.9 points higher than the same week a year ago, November 21/22, 2020 (104.5).
Consumer Confidence this week was up in Victoria, Queensland and WA, while falling slightly in NSW and SA. This week’s small increase was driven by Australians becoming more confident about the prospects for the economy over the next five years.
Current financial conditions
- Now 29% (unchanged) of Australians say their families are ‘better off’ financially than this time last year compared to 26% (down 2ppts), that say their families are ‘worse off’ financially.
Future financial conditions
- A decreasing plurality of 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, compared to 17% (unchanged) that expect to be ‘worse off’ financially.
Current economic conditions
- Now 18% (down 2ppts), of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to by 20% (unchanged), that 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 15% (down 4ppts) expecting ‘bad times’.
Time to buy a major household item
- Buying intentions remain stable this week with 39% (unchanged) of Australians, saying now is a ‘good time to buy’ major household items while 28% (down 2ppts) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
“Consumer confidence rose 1.3% last week as the nation inched closer to normalcy, with Victoria easing all COVID restrictions for the fully vaccinated. Close to 85% of those aged 16 and above across Australia had been fully vaccinated by last week. Confidence increased 4.9% in Victoria,2.0% in Western Australia and 1.7% in Queensland, while it dropped -1.1% in New South Wales and -0.5% in South Australia. Inflation expectations decreased 0.4ppt to 4.6% last week despite petrol prices hovering around record highs. This indicator can be volatile from week-to-week, so we are cautious about overreacting to one survey reading. If the fall in inflation expectations is sustained, however, it may be an important signal for wages growth.”
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 |
