Back To Listing
ANZ-Roy Morgan Consumer Confidence drops 0.9 pts to 92.1 after COVID-19 cases surge in Melbourne; forcing Melbourne back into lockdown for six weeks starting midnight tomorrow - Wednesday July 8
July 07 2020
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,443 online and telephone interviews conducted Australia-wide with men and women aged 14 and over the weekend July 4/5, 2020.
ANZ-Roy Morgan Consumer Confidence dropped 0.9pts to 92.1 this week – and is now at its lowest for nearly two months since May 9/10, 2020 (90.3). Consumer Confidence is now 25.5pts lower than a year ago on the comparable weekend of July 6/7, 2019 (117.6) and 2.9pts below the 2020 weekly average of 95.0.
Driving the fall this week were declines in confidence about the Australian economy into the future as well as a drop in those saying now is a ‘good time to buy’ household items.
Current financial conditions
Now 23% (up 2ppts) of Australians say their families are ‘better off’ financially than this time last year and 37% (up 2ppts) say their families are ‘worse off’ financially.
Future financial conditions
Current economic conditions
Future financial conditions
Time to buy a major household item
Meanwhile a decreasing number of Australians, 35% (down 1ppt), say now is a ‘good time to buy’ major household items, while 36% (up 2ppts), say now is a ‘bad time to buy’.
The four-week moving average for ‘inflation expectations’ was stable at 3.2%.
ANZ Senior Economist, Catherine Birch, commented:
"Confidence fell a further 1% last week, taking it to an eight-week low. Although there was a marginal improvement in how people felt about their financial conditions, confidence in economic conditions continued to deteriorate. This was not surprising, with new COVID-19 case numbers continuing to escalate in Melbourne. While the return to lockdown has so far been localised to 12 postcodes, the confidence effect is more pervasive. The uncertainty also appears to be discouraging households from committing to large purchases, with ‘time to buy a major household item’ falling heavily for a second week."
Latest ANZ-Roy Morgan Consumer Confidence Releases
Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables
ANZ-Roy Morgan Weekly Australian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan 2020 Weekly Australian Consumer Confidence Results
ANZ-Roy Morgan Monthly Australian Consumer Confidence Results (1973-2020)
ANZ-Roy Morgan New Zealand Consumer Confidence Results (All 5 Questions)
Roy Morgan Indonesian Consumer Confidence Results (All 5 Questions)
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
For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309