Original article by Roy Morgan
Market Research Update – Page: Online : 28-Jul-21
ANZ-Roy Morgan Consumer Confidence fell 3.6pts to 100.7 on July 24/25, as daily NSW COVID-19 cases remain high despite the Greater Sydney lockdown. Consumer Confidence continues to remain well below the 2021 weekly average of 110.6; however, it is still 11.7 points higher than the same week a year ago (89.0). Consumer Confidence was down 2.2pts (-2.2%) to 99.3 in Sydney and down 6.8pts (-6.4%) to 99.0 in Melbourne. Consumer Confidence also fell significantly in Brisbane, but it increased slightly in Adelaide as the state continues to record low COVID-19 case numbers. Now 25% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year, while 27% (down 1ppt) say their families are ‘worse off’ financially. In addition, 34% (down 4ppts) of Australians expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator since early October 2020), and 15% (down 2ppts) expect to be ‘worse off’ financially. Some 12% (down 3ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 27% (up 3ppts) expect ‘bad times’ (the highest figure for this indicator since late November 2020). Meanwhile, 34% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 35% (up 5ppts) say now is a ‘bad time to buy’ – to put this indicator in negative territory for the first time since mid-October 2020 during Victoria’s second wave.
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ