ANZ-Roy Morgan Consumer Confidence drops 0.9 pts to 92.1 after Melbourne COVID-19 cases surge – forcing Melbourne back into six weeks lockdown

Original article by Roy Morgan
Market Research Update – Page: Online : 8-Jul-20

ANZ-Roy Morgan Australian Consumer Confidence fell 0.9pts to 92.1 in the week to 4/5 July, to its lowest level since May 9/10 (90.3). Consumer Confidence is now 25.5pts lower than a year ago (117.6) and 2.9pts below the 2020 weekly average of 95.0. Now 23% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 37% (up 2ppts) say their families are ‘worse off’ financially. Meanwhile, 35% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 18% (down 1ppt) expect to be ‘worse off’ financially. Just 7% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months, while 46% (up 1ppt) expect ‘bad times’. In addition, 35% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 36% (up 2ppts) 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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