ANZ-Roy Morgan Consumer Confidence virtually unchanged at 112.2 but down in Sydney (-4.6%) as Melbourne recovers (+2.4%)

Original article by Roy Morgan
Market Research Update – Page: Online : 30-Jun-21

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 112.2 on June 26/27, although there were contrasting movements in Australia’s two largest cities; Sydney was down 4.6% while Melbourne increased 2.4% on a week ago as the city continued to recover from its recent lockdown. Consumer Confidence is just above the 2021 weekly average of 111.4, and 19.2pts higher than the same week a year ago (93). Now 28% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 25% (down 1ppt) say their families are ‘worse off’ financially. In addition, 38% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 13% (down 3ppts) expect to be ‘worse off’ financially. Some 19% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 15% (up 2ppts) expect ‘bad times’. Meanwhile, 45% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 24% (unchanged) say now is a ‘bad time to buy’. Interviewing this week was largely conducted before the Sydney-wide lockdown began on Saturday night and before many restrictions and border closures were announced in other States.

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

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