Consumer confidence remained relatively flat compared to last week's report. This is tracking below the 2021 weekly average of 109.2, but is 11.6 points higher than the same week a year ago.
Lockdown affected states VIC and NSW are both tracking just below the neutral level of 100, while SA and QLD are just above, and WA significantly above.
Positive growth in confidence was driven by improving sentiment about people’s personal financial situations this time next year.
Consumer spend slowed for the week ending August 27, results showed from CBA’s high frequency card spending data.
National spending is sitting at 5% higher compared to the same week in 2019, but this is down from 8% in the previous week’s report, likely caused by ongoing lockdowns.
Overall, spending remains significantly down from May 2021, prior to the Victoria lockdown. With regional VIC now joining NSW, Melbourne and ACT in lockdown this is estimated to continue.
The Voice remains the top non-news program for the week with consistent total audiences of over 1M, though going into the semi-finals, it has dropped back -10% WoW due to improved performance from The Block on Nine.
Combined with high news viewing and AFL, Network Seven extended its audience share over Nine and Ten.
BVOD audience reach is steady at 6.9M Australians per week, with The Voice also dominating total minutes viewed.
A report between Roy Morgan and UberMedia found that Brisbane’s CBD recovered quickly from the latest lockdown.
Tracking the average 7-day movement level in the Brisbane CBD, late August was at 54% of pre-pandemic levels, up from a low of only 23% in early August and its highest for 3 months since late May.
This is hopefully a good sign for future recovery in Melbourne and Sydney, which are tracking at 12-13% of pre-pandemic levels currently.
CBA Group, Consumer Spend week ended 27th Aug
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