Original article by Roy Morgan
Market Research Update – Page: Online : 10-Aug-22

ANZ-Roy Morgan Consumer Confidence fell 3.8pts to 80.3 in the week ended 7 August. It is now 18.3pts below the same week a year ago (98.6). In addition, Consumer Confidence is now 11.6pts below the 2022 weekly average of 91.9 and at its lowest since early April 2020 during the early stages of the pandemic. On a State-based level Consumer Confidence was down across all five mainland States this week with the largest falls in NSW, South Australia and Western Australia. Now 22% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 43% (up 1ppt) say their families are ‘worse off’ financially. In addition, 29% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 35% (up 3ppts) expect to be ‘worse off’ financially. Only 6% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 45% (up 6ppts) expect ‘bad times’ (the highest figure for this indicator since September 2020). Meanwhile, just 23% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 48% (up 3ppts) say now is a ‘bad time to buy’.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ