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.
Melbourne-based, boutique activations and brand experience company, ACTIV Brand Management, has secured a new partnership with Nine The Block, which saw them deliver a series of sensory brand experiences to support the show’s sponsorship engagement and virtual events calendar. In response to the changing events landscape, the team at ACTIV recently launched Brand Box, a […]
Alive are celebrating 10 years! Leaders in creative event production, and the launch of ‘Alive TV’ showcases the revolutionary concepts created for clients during this challenging year; such as the most recent virtual success stories with clients such as Luxoticca Brickworks and The International Rose Garden Festival. Alive Events have pioneered the virtual space for […]
Integrated B2B marketing agency Thinksmart Marketing (TSM) has managed to execute a campaign from 3,000ft up in a hot air balloon. NICE inContact, approached TSM earlier this year to build preference, drive demand and generate strong leads for the brand across ANZ, with a campaign focusing on showcasing the capabilities and agility of its global-leading […]
Global attribution and marketing analytics company AppsFlyer has expanded into Australia and New Zealand, with the official opening of its first office in Sydney. It marks the opening of the company’s 19th office worldwide, with AppsFlyer hoping to “support the region’s rapidly growing local app economy”. The company said it plans capitalise on ANZ’s mobile […]