ANZ-Roy Morgan Consumer Confidence unchanged at 97.5

Topic: Consumer Confidence, Press Release

Finding No: 8450

Download 8450

Confidence was unchanged from last week, though weakness was seen in three sub-indices compared to just one in the previous reading.

Current financial conditions

Now 23% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 36% (up 1ppt) say their families are ‘worse off’ financially.

Future financial conditions

In addition 35% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year compared to 18% (up 1ppt) that expect to be ‘worse off’ financially.

Current economic conditions

However just 10% (up 1ppt) expect ‘good times’ for the Australian economy over the next 12 months while 40% (up 2ppts), expect ‘bad times’.

Future financial conditions

And in the longer term, 22% (up 3ppts) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 16% (unchanged) expecting ‘bad times’.

Time to buy a major household item

An increasing number of Australians, 38% (up 1ppt), say now is a ‘good time to buy’ major household items, while 31% (down 3ppts), say now is a ‘bad time to buy’ – the lowest figure for this indicator since mid-March before shutdowns impacted large parts of the Australian economy.

The four-week moving average for ‘inflation expectations’ was stable at 3.2%.

ANZ Head of Australian Economics, David Plank, commented:

“Confidence held up despite weak labour market data and an increase in COVID-19 cases in Victoria. Confidence has been steady since the end of May. Given the backdrop of disappointing news on the labour market and developments in Victoria, we think the result should be seen as encouraging. The consistent improvement in ‘time to buy a household item’ is in line with the ANZ-observed data indicating recovery in retail sales. This component has more than doubled from its historic low at the end of March, though it remains someway below its long-run average.

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.
Business Banking Satisfaction - Monthly Report in Australia.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.

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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

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ANZ-Roy Morgan Consumer Confidence unchanged at 97.5

ANZ Head of Australian Economics, David Plank, commented:

Margin of Error

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