ANZ-Roy Morgan Consumer Confidence fell 1.2pts to 79.9 – the lowest since the outbreak in April 2020. | So Good News
ANZ-Roy Morgan Consumer Confidence fell 1.2pts to 79.9 this week and is now a massive 28.5pts below the same week a year ago, October 30/31, 2021 (108.4). Additionally, Consumer Confidence has now fallen for five straight weeks (the longest two-year decline since August 2020) and is now 9.9pts below the 2022 average of 89.8.
Although the sharp drop in Consumer Confidence continued this week it was a mixed picture looking at the states and the measure in Victoria, Queensland and Western Australia, but in NSW and South Australia. Passing the index questions that lowered the drop related to the ideas related to people’s finances are low.
Current financial situation
- Now 21% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year compared to 47% (up 1ppt) who say their families are ‘worsening’ (the highest number of this sign since March 28/29, 2020 (circular) is the highest number of this sign (46.9%) to one decimal place since August 1992 – 48.4%).
- More than a quarter of Australians, 28% (down 1ppt), expect their family to be ‘better off’ financially this time next year while 37% (up 3ppts), expect it to be ‘worse’.
Current economic conditions
- Only 6% (under 1ppt) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to over two and five, 41% (up 1ppt), who expect ‘bad times.’
Future economic conditions
- Sentiment about Australia’s long-term economy was unchanged this week with 13% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to 19% (up 1ppt) expecting ‘bad times’.
Time to buy a major household item
- When it comes to shopping intentions now 22% (down 1ppt) of Australians, say it’s a ‘good time to buy’ major household items while twice as many, 47% (down 3ppts), say it’s a ‘bad time’. buy’.
ANZ’s Director of Economics for Australia, David Plank, said:
Consumer confidence fell 1.5% last week, with the federal budget showing no positive results. The Q3 CPI hitting a 32-year high has pushed domestic inflation expectations to 6.6%, the highest since February 2011. The share of people who think they have more money than the same time last year has reached 47%, the highest value. for this brand over thirty years. The cost of living crisis, as well as expectations of more RBA tightening, have caused confidence to drop to levels seen earlier in the early weeks of the COVID Lockdowns. This is also reflected in the 15.6% drop in confidence among people who have paid their debts in the last six weeks. The continuing decline in confidence seems to be affecting the currency as well. ANZ data for October shows that the money supply seen late in the month is not happening.
The latest Roy Morgan Consumer Confidence Monthly Report is available at Roy Morgan Online Store. They provide breakdowns by Age, Sex, State, Region (Capital Cities / Country), Generations, Lifecycle, Socio-Economic Scale, Employment Status, Employment, Home Ownership, Voting Purpose, Roy Morgan Value Segments and more.
Margin of Error
The margin of error to be allowed for any estimate depends mainly on the number of interviews that have been established. The margin of error gives an indication of the expected 95% decrease, expressed as the number of percentage points above or below the true estimate. Allowance for design effects (such as stratification and weight) should be made as appropriate.
|Sample Size||Estimated Percentages|
|40%-60%||25% or 75%||10% or 90%||5% or 95%|
|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|