Original article by Roy Morgan
Market Research Update – Page: Online : 4-Aug-21
ANZ-Roy Morgan Consumer Confidence rose 1.1pts to 101.8 on July 31/August 1, after lockdowns in Melbourne and Adelaide ended and Australians were advised of vaccination targets to achieve to avoid future lockdowns. Consumer Confidence is well below the 2021 weekly average of 110.3; however, it remains 13.2 points higher than the same week a year ago (88.6). There were mixed fortunes for Consumer Confidence around the country, with increases in Melbourne and Adelaide, while there was a decline in Sydney after the lockdown was extended for another month. Now 26% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 27% (unchanged) say their families are ‘worse off’ financially. In addition, 37% (up 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 15% (unchanged) expect to be ‘worse off’ financially. Some 11% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 29% (up 2ppts) expect ‘bad times’. Meanwhile, 36% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 32% (down 3ppts) say now is a ‘bad time to buy’.
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ