Roy Morgan: Consumer Confidence Hits 10 Year Low

shopping cart in supermarket aisle with product shelves interior defocused blur background
SHARE
THIS



According to new research from Roy Morgan, consumer confidence has hit a decade low at 100.0.

While over the past week confidence was down just -0.4 per cent, consumer confidence is still at its lowest since 2009. The small fall over the last week, however, remains somewhat surprising result given the COVID-19 pandemic – it’s possible the government’s fiscal package contributed to the resilience.

ANZ Head of Australian Economics David Plank said: “Despite all the gloom last week, confidence only fell marginally. It is, however, at its lowest level since 2009. This is the more important point. The weakness was predominantly due to another sharp drop in the current economic conditions subcomponent.

“This component is now approaching the lows seen during the GFC. The divergence between financial and economic conditions remains large. The labour market will likely determine how that gap is closed, which makes this week’s employment data important.

“We are expecting bad news, with an outright drop in employment likely. Offsetting this may be a further stimulus package from the Commonwealth Government, which will add to the fiscal stimulus now being delivered by a number of states. The RBA is also set to cut to 0.25 per cent and announce QE on Thursday.”

You can see the current consumer confidence statistics from ANZ below.

Please login with linkedin to comment

consumer confidence Roy Morgan

Latest News

Dairy Australia Launches Latest “Buy. Support. Enjoy Aussie Dairy” Via Elmwood
  • Campaigns

Dairy Australia Launches Latest “Buy. Support. Enjoy Aussie Dairy” Via Elmwood

The latest instalment of Dairy Australia’s “Buy. Support. Enjoy Aussie Dairy,” campaign has launched via elmwood. The ad aims to highlight the health benefits of getting your daily dose of dairy while also supporting local farmers and communities. The new Enjoy phase of the Dairy Australia campaign follows on from the initial scene-setting campaign, (around […]

Retired Marketing Man Andrew Piccoli Speaks About His Children’s Book ‘Dexter The Dahu’
  • Marketing

Retired Marketing Man Andrew Piccoli Speaks About His Children’s Book ‘Dexter The Dahu’

Andrew Piccoli spent his career overseeing some of Australia’s most memorable ad campaigns. Now, he has turned his attention to a particular area of passion: children’s literature. Now retired, Piccoli spent the COVID-19 lockdown writing the story of Dexter the Dahu for children aged between five and nine. He has donated a copy of the charming […]

A Clearer Lens: Restoring Trust In Out Of Home Measurement
  • Opinion

A Clearer Lens: Restoring Trust In Out Of Home Measurement

Outdated and modelled legacy measurement metrics being used by OOH companies have hindered confidence in the channel. Robin Arnold [pictured], Chief Technology Officer for LENS Technology & Analytics explores the few hero systems emerging to bring trust back to the channel. What do marketers really want? It’s a hard, nuanced question that has many answers. […]

Opinion

by B&T Magazine

B&T Magazine