ANZ-Roy Morgan Consumer Confidence increases for eighth straight week, up 1.6pts to 99.7 – up in Sydney, Melbourne & Perth

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-20

ANZ-Roy Morgan Consumer Confidence rose 1.6pts to 99.7 on the weekend of October 24/25. It is now 10.7pts lower than a year ago (110.4), but 5.6pts above the 2020 weekly average of 94.1. Consumer Confidence is also at its highest since March 14/15 (110.4), and it is up 9.5pts since ending August at 90.2. Now 26% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 32% (down 1ppt) say their families are ‘worse off’ financially (the lowest figure for this indicator since March 14/15). In addition, 35% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, and 16% (down 2ppts) expect to be ‘worse off’ financially. Only 9% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months, while 34% (down 2ppts) expect ‘bad times’ (the lowest figure for this indicator since early October 2019). Meanwhile, 36% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 31% (down 2ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator since June 20/21).

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

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