ANZ-Roy Morgan Consumer Confidence increases for ninth straight week, up 0.2pts to 99.9 – up in Melbourne as 16 week lockdown ends

Original article by Roy Morgan
Market Research Update – Page: Online : 4-Nov-20

ANZ-Roy Morgan Consumer Confidence rose 0.2pts to 99.9 on the weekend of October 31/ November 1. It is now 5.7pts above the 2020 weekly average of 94.2, but it is still 13.6pts lower than a year ago (113.5). Consumer Confidence has now increased for nine straight weeks and is up 9.7pts since ending August at 90.2, and is at its highest since March 14/15 (100.0). Now 22% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year, while 34% (up 2ppts) say their families are ‘worse off’ financially. In addition, 36% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 16% (unchanged) expect to be ‘worse off’ financially. Some 12% of Australians (up 3ppts) expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since March, while 30% (down 4ppts) expect ‘bad times’ (the lowest figure for this indicator since July 2019). Meanwhile, 35% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 32% (up 1ppt) say now is a ‘bad time to buy’.

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

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