ANZ-Roy Morgan Consumer Confidence plunges 5.7pts to 104.3 – its lowest since early November 2020 as lockdown extended in Sydney and Melbourne goes into fifth lockdown

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

ANZ-Roy Morgan Consumer Confidence fell 5.7pts to 104.3 on July 17/18, after the Greater Sydney lockdown was extended until at least the end of July and Melbourne entered an unprecedented fifth lockdown late last week. Consumer Confidence is now sitting clearly below the 2021 weekly average of 110.9; however, it is still 13.6 points higher than the same week a year ago (90.7). Now 29% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 28% (up 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 17% (up 3ppts) expect to be ‘worse off’ financially. Some 15% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 24% (up 6ppts) expect ‘bad times’ (the highest figure for this indicator since late November 2020). Meanwhile, 36% (down 7ppts) of Australians say now is a ‘good time to buy’ major household items, while 30% (up 6ppts) say now is a ‘bad time to buy’ – an overall swing of 13ppts and the worst result for this question since early November 2020.

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

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