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ANZ-Roy Morgan Consumer Confidence drops 0.7pts to 110.7 after Melbourne’s lockdown is extended into a second week
June 08 2021
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,528 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend June 5/6, 2021.
ANZ-Roy Morgan Consumer Confidence dropped 0.7pts to 110.7 this week after Melbourne’s lockdown was extended into a second week. Consumer Confidence is now just below the 2021 weekly average of 111.3 but is 13.7pts higher than the same week a year ago, June 6/7, 2020 (97.0).
This week’s decrease was driven by a drop in Melbourne and Country Victoria. Across the indices the view on personal finances compared to this time a year ago as well as the number of people saying now is a good time to buy major household items were both slightly lower than a week ago.
Current financial conditions
- Now 29% (down 2ppts) 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
Current economic conditions
- An unchanged 20% of Australians expect ‘good times’ for the Australian economy over the next 12 months while 18% (up 3ppts), expect ‘bad times’.
Future economic conditions
In the longer term, a fifth of Australians, 20% (up 1ppt), are expecting ‘good times’ for the economy over the next five years compared to only 13% (down 1ppt) expecting ‘bad times’.
Time to buy a major household item
- A declining plurality of Australians, 41% (down 1ppt), say now is a ‘good time to buy’ major household items while 25% (up 1ppt) say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
"Consumer confidence fell another 0.6% as the lockdown in Melbourne was extended until at least 10 June. Confidence fell by 2.4% in Melbourne and by 0.6% in Brisbane, but it was up 4.3% in Sydney. The emergence of a more infectious strain of COVID is raising concerns that the lockdown could be extended again. This could have a more lasting impact on confidence than we have seen with recent snap lockdowns. Still, the fact that consumers became more confident about future financial and economic conditions suggests even a longer shutdown may not have a permanently dampening effect on overall sentiment."
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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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