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ANZ-Roy Morgan Consumer Confidence plunges to lowest historical record at 65.3

  • March 31 2020
  • Finding No. 8345
  • Topic: Consumer Confidence Press Release
  • Country: Australia
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,503 face-to-face and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend March 28/29, 2020.
Confidence declined by 9.8% over the past week and is now at its lowest level since the inception of this survey in 1973.

  • ‘Future financial conditions’ was the only subcomponent which was positive, gaining 0.6%. ‘Current financial conditions’ fell 16.1%.
  • ‘Current economic conditions’ declined by 9.5%, following last week’s 37% decline. This is by far the weakest component of the survey. ‘Future economic conditions’ were a bit calmer, falling just 2.4%.
  • ‘Time to buy a major household item’ fell the most over the past week, dropping by 23.8%. The four-week moving average for ‘inflation expectations’ was up by 0.1ppt to 4.1%.

ANZ Head of Australian Economics, David Plank, commented:

"Sentiment took a further hit over the past week, falling to the lowest ever level in the almost 50-year history of the survey. There were some glimmers of hope. ‘Future finances’ were up marginally and inflation expectations rose. In fact, there was a sharp uptick in the weekly reading of inflation expectations, which rose to 4.3%. But we aren’t getting carried away. ‘Current economic conditions’ fell more than 9% and are down close to 50% over two weeks, to the lowest ever level. And most other aspects of the survey are exceptionally weak. The announcement of the largest fiscal package yet may stabilise confidence, but much will depend on the how the pandemic evolves."

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Related Research Reports

The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more

Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.
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Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

40%-60%

25% or 75%

10% or 90%

5% or 95%

1,000

±3.0

±2.7

±1.9

±1.3

5,000

±1.4

±1.2

±0.8

±0.6

7,500

±1.1

±1.0

±0.7

±0.5

10,000

±1.0

±0.9

±0.6

±0.4

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2