Original article by Roy Morgan
Market Research Update – Page: Online : 25-Aug-21
ANZ-Roy Morgan Consumer Confidence rose 0.5pts to 101.6 on August 21/22, although it is still well below the 2021 weekly average of 109.4. Consumer Confidence is now only 8.9 points higher than the same week a year ago (92.7). Consumer Confidence is now lowest in Victoria and NSW just below the neutral level of 100. Consumer Confidence in Queensland is just above 100 while it is significantly higher in both Western Australia and South Australia at over 110. Now 29% (up 4ppts) of Australians say their families are ‘better off’ financially than this time last year, while 26% (down 3ppts) say their families are ‘worse off’ financially. In addition, 35% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and only 14% (unchanged) expect to be ‘worse off’ financially. Some 12% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (up 5ppts) expect ‘bad times’. Meanwhile, 35% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 33% (unchanged) say now is a ‘bad time to buy’.
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ