ANZ-Roy Morgan Consumer Confidence drops 4.5 pts to 93.0 after COVID-19 cases surge in Melbourne

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jul-20

ANZ-Roy Morgan Australian Consumer Confidence fell 4.5pts to 93.0 in the week to 27/28 June, and is now at its lowest since May 23/24 (92.7). Consumer Confidence is 25.9pts lower than a year ago (118.9) and 2.1pts below the 2020 weekly average of 95.1. Now 21% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator since May 9/10), while 35% (down 1ppt) say their families are ‘worse off’ financially. Meanwhile, 34% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator since April 25/26), and 19% (up 1ppt) expect to be ‘worse off’ financially. Just 7% (down 3ppts) expect ‘good times’ for the Australian economy over the next 12 months, while 45% (up 5ppts) expect ‘bad times’. In addition, 36% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 34% (up 3ppts) say now is a ‘bad time to buy’. The four-week moving average for ‘inflation expectations’ was stable at 3.2%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

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