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ANZ-Roy Morgan Consumer Confidence down 0.5pts to 110.4
March 23 2021
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,497 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend March 20/21, 2021.
ANZ-Roy Morgan Consumer Confidence was down by 0.5pts to 110.4 on March 20/21, 2021. Consumer Confidence is now exactly level with the 2021 weekly average of 110.4 but is a huge 38.2pts higher than the same week a year ago, March 21/22, 2020 (72.2).
The Consumer Confidence result from a year ago was the week that saw a record plunge of 27.8% to a then record low of 72.2 in the index as heavy restrictions were introduced around Australia in response to the onset of the COVID-19 pandemic.
This week’s decrease has been driven by decreasing confidence about the next 12 months with regards to personal finances and also the performance of the broader Australian economy.
Current financial conditions
- Now 27% (unchanged) of Australians say their families are ‘better off’ financially than this time last year and 28% (down 2ppts), say their families are ‘worse off’ financially.
Future financial conditions
In addition, 36% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator for over five months since November 7/8, 2020) compared to only 14% (unchanged) that expect to be ‘worse off’ financially.
Current economic conditions
- Less than a fifth of Australians, 19% (down 2ppts), expect ‘good times’ for the Australian economy over the next 12 months while 17% (unchanged), expect ‘bad times’.
Future economic conditions
In the longer term, just over a fifth of Australians, 22% (down 2ppts), are expecting ‘good times’ for the economy over the next five years compared to 11% (down 1ppt) expecting ‘bad times’.
Time to buy a major household item
In good news for retailers an increasing plurality of Australians, 43% (up 2ppts) say now is a ‘good time to buy’ major household items, while 25% (unchanged), say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"The very positive news about the labour market in February, with a strong gain in jobs and the much bigger than expected drop in the unemployment rate have not boosted consumer confidence. The torrential downpours and overflowing dams causing flash floods along parts of the east coast possibly dampened sentiment, as evident from the index falling 5.9% in Brisbane and 2.6% in Sydney. Along with the harsh weather conditions, the JobKeeper program approaching its end may also be causing some apprehension."
Latest ANZ-Roy Morgan Consumer Confidence Releases.
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
ANZ-Roy Morgan Weekly Australian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan 2020 Weekly Australian Consumer Confidence Results
ANZ-Roy Morgan Monthly Australian Consumer Confidence Results (1973-2021)
ANZ-Roy Morgan New Zealand Consumer Confidence Results (All 5 Questions)
Roy Morgan Indonesian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan Asia-Pacific Consumer Confidence Results (Headline Figures)
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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