ANZ-Roy Morgan Consumer Confidence virtually unchanged at 101.8 as vaccination levels rise but lockdowns continue

Current financial conditions

• Now 26% (down 3ppts) of Australians say their families are ‘better off’ financially than this time last year and 26% (unchanged), say their families are ‘worse off’ financially.

Future financial conditions

• An increasing plurality of 37% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, compared to only 14% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

• However, only 12% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 29% (down 4ppts), expect ‘bad times’.

Future economic conditions

• In the longer term, just under a fifth of Australians, 18% (down 4ppts), are expecting ‘good times’ for the economy over the next five years compared to 17% (down 2ppts) expecting ‘bad times’.

Time to buy a major household item

• Buying intentions were unchanged this week with 35% of Australians saying now is a ‘good time to buy’ major household items while an unchanged 33% say now is a ‘bad time to buy’.

"Consumer confidence rose 0.2% last week despite rising COVID case numbers. Sentiment in Sydney gained 0.9%, as daily case numbers rose above 1,000 for the first time. Confidence fell in Brisbane (-1.6%), Melbourne (-1.9%), Adelaide (-8.6%) and Perth (-0.8%). The overall steady outlook may reflect the increasing vaccination rates across the country and the hope that this will eventually bring lockdowns and border closures to an end."