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ANZ-Roy Morgan Consumer Confidence falls sharply to 100.4

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 999 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend March 7/8, 2020.
Consumer confidence fell 4.2% last week. This was the third consecutive fall, for a cumulative decline of more than 8%, taking the index to a low last seen in May 2014.

  • ‘Current economic conditions’ fell 8%, adding to the massive 16.6% decline in the previous reading. ‘Future economic conditions’ bucked the trend with a rise of 1.7%.
  • Unlike last week, confidence in financial conditions also worsened. ‘Current financial conditions’ fell 4%, while ‘future financial conditions’ declined by 3.6%.
  • ‘Time to buy a major household item’ fell by 7.4%, resulting in an 11-year low. The four-week moving average for ‘inflation expectations’ was up 0.1ppt to 4.1%.

ANZ Head of Australian Economics, David Plank, commented:

"Concern around coronavirus and some not so encouraging data prints resulted in further weakness in consumer confidence last week. Sharply weaker equity prices and the RBA rate cut probably added to the negative sentiment. The cumulative fall over the last two weeks for the index is more than 7%. There have been only four instances when the cumulative two-week fall was greater, emphasising the downside risks posed by current developments.

"Fear about the near-term economic outlook is driving the weakness. ‘Current economic conditions’ has fallen more than 20% over the last two weeks and is now at the lowest level since the global financial crisis. This highlights the challenge facing the federal government as it finalises its soon to be announced stimulus package

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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.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.
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Roy Morgan is the largest independent Australian research company, with offices throughout Australia, as well as in Indonesia, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan has over 70 years’ experience in collecting objective, independent information on consumers.

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


25% or 75%

10% or 90%

5% or 95%