ANZ-Roy Morgan Consumer Confidence slips 0.5 pts to 91.6 after Melbourne forced back into lockdown after surge of COVID-19 cases

Original article by Roy Morgan
Market Research Update – Page: Online : 15-Jul-20

ANZ-Roy Morgan Australian Consumer Confidence fell 0.5pts to 91.6 in the week to 11/12 July, and is now at its lowest level since May 9/10 (90.3). Consumer Confidence is now 24.3pts lower than a year ago (115.9) and 3.3pts below the 2020 weekly average of 94.9. Now 21% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 34% (down 3ppts) 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, and 18% (unchanged) expect to be ‘worse off’ financially. Just 7% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months, while 48% (up 2ppts) expect ‘bad times’. In addition, 33% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 36% (unchanged) 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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