ANZ-Roy Morgan Consumer Confidence lifts 1.4pts to 107.4 as vaccination rates rise and restrictions continue to ease

• 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’.

"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."