Original article by Roy Morgan
Market Research Update – Page: Online : 24-Aug-22

ANZ-Roy Morgan Consumer Confidence rose 1.4pts to 85.6 in the week ended 17 August. It is now 16pts below the same week a year ago (101.6). In addition, Consumer Confidence is now 5.9pts below the 2022 weekly average of 91.5, but it is now at its highest since early June 2022. On a State-based level Consumer Confidence increased in New South Wales, Victoria, Queensland and South Australia; there was a slight decline in Western Australia, but Consumer Confidence in that State remains higher than any other State. Now 24% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 42% (up 1ppt) say their families are ‘worse off’ financially. In addition, 32% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, and 30% (down 1ppt) expect to be ‘worse off’ financially. Only 9% (up 3ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 34% (down 3ppts) expect ‘bad times’. Meanwhile, just 22% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items (the lowest figure for this indicator since the early stages of the pandemic in April 2020), while 46% (down 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