ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 0.9pts to 104.6

Current financial conditions

• Now 29% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year compared to 27% (down 1ppt), say their families are ‘worse off’ financially.

Future financial conditions

• A decreasing plurality of 36% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, compared to 14% (unchanged) that expect to be ‘worse off’ financially.

Current economic conditions

• An increasing proportion of 16% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months while 25% (unchanged), expect ‘bad times’.

Future economic conditions

• In the longer term, just over a fifth of Australians, 22% (up 4ppts), are expecting ‘good times’ for the economy over the next five years compared to 17% (down 1ppt) expecting ‘bad times’.

Time to buy a major household item

• Buying intentions were down slightly this week with 36% (down 2ppts) of Australians, saying now is a ‘good time to buy’ major household items while 33% (up 2ppts) say now is a ‘bad time to buy’.

"Consumer confidence increased by 0.9% last week as NSW recorded a substantial drop in new COVID cases. People are optimistic but sentiment is still some way below its long-run average. With Sydney and Melbourne headed towards re-opening in the next few weeks, confidence increased in both cities by 4.4% and 1.5% respectively. The rise in Melbourne was dampened by a fall in regional Victoria of -4.1%. Confidence also declined in Adelaide (-2.1%), Brisbane (-9.0%) and Perth (-6.2%). Inflation expectations remained elevated at its recent pandemic-high."