Perth consumers most confident

Consumers in Perth are more confident than any other major capital by some margin, according to the latest ANZ Roy Morgan Research weekly consumer confidence data.

The numbers are an index based on response to a range of questions, with a score of more than 100 indicating consumers are more positive than negative.

Perth scored 97.6 points, up 2.4 points from the prior week, Roy Morgan said, and well above the national average of 88.6 points.

That indicates that Perth consumers are marginally more negative than positive.

But they were less negative than consumers in any other city.

The next best performer was Adelaide, where consumers scored 90.1 points, and Brisbane, on 88.9 points.

National confidence was 24.2 points below the corresponding period in 2019.

“Driving the increase this week was increasing confidence, and fewer concerns, about personal financial situations and Australia’s economic performance over the next year,” Roy Morgan said. 

“Now 34 per cent (up 2 points) of Australians expect their family to be ‘better off’ financially this time next year compared to 19 per cent (down 3 points) that expect to be ‘worse off’ financially. 

“In addition, an increasing 6 per cent (up 1 point) expect ‘good times’ for the Australian economy over the next 12 months while... 51 per cent (down 4 points), expect ‘bad times’.

But a recent business survey by Sensis suggested a more cautious outlook for Perth.

About 12 per cent of businesses in Perth expected to close their dooes in the next 12 months, behing only Melbourne on 13 per cent.

Around 40 per cent of WA small businesses were fairly confident or extremely confident about the next 12 months, and 28 per cent were fairly worried or extremely worried.

The survey also suggested regional businesses were faring better than metropolitan businesses.

See our special report on small business in the upcoming edition of Business News for a further analysis about the economic recovery.