ANZ-Roy Morgan Consumer Confidence increases 1.5pts to 107.5 as vaccination rates continue to rise

• Now 29% (up 2 ppts) of Australians say their families are ‘better off’ financially than this time last year compared to 28% (down 1ppt), that say their families are ‘worse off’ financially.

Future financial conditions

• 39% of Australians (up 2ppts) 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 17% (down 1ppt), of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to 18% (down 2ppts), that expect ‘bad times’.

Future economic conditions

• In the longer term, under a fifth of Australians, 19% (up 3ppts), 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 slightly decreased this week, with 41% (down 1ppt) of Australians, saying now is a ‘good time to buy’ major household items while 27% (up 1ppt) say now is a ‘bad time to buy’.

"Consumer confidence rose 1.4% last week even as ‘weekly inflation expectations’ rose a touch to 4.9%. Consumers are positive about the outlook despite the news about the Omicron variant. Among the major cities confidence increased by 5.0% in Sydney, 1.0% in Brisbane and 1.4% in Perth, while it dropped in Melbourne (-1.2%) and Adelaide (-0.5%). The sustained jump in inflation expectations doesn’t seem to have had a major impact on sentiment, unlike what is occurring elsewhere such as in the US."